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With a new bull run in the crypto market, the YFI token price is on a bullish recovery run. Following the massive correction, the rise in trend momentum teases a rounding reversal in Yearn.Finance token. Further, the broader DeFi segment recovery increases the chances for Yearn. Finance's comeback.
The recent dYdX v3 incident, involving significant price movements of SUSHI and YFI tokens, has raised crypto community concerns. The attacker deposited $5.3 million, took leveraged positions, and caused liquidation events.
Decentralized exchange dYdX has published a post-mortem report, detailing a recent exploit on its v3 platform.
A faulty script drained $1.4 million in Yearn Finance's treasury during a token swap, but so far community support has helped regain some losses, while updated code practices aim to secure the DeFi protocol's future.
Yearn.finance seeks the return of $1.4 million from traders after a multisignature scripting error drained its treasury.
Decentralized finance (DeFi) platform Yearn. finance is reaching out to arbitrage traders to return $1.4 million in funds that were inadvertently drained due to a multisg scripting error.
The mishap stemmed from a series of oversights in handling Treasury funds. Leading to the unintended transfer of the entire treasury balance, including fees, to a trading multisig.
Decentralized protocol Yearn Finance lost $1.4 million due to a multisig script error. Information about this appeared on the project's GitHub page, which led to significant price slippage and arbitrageurs making money from the error.
A Yearn contributor said the value lost came from “strictly protocol owned liquidity” in the protocol's treasury and that customer funds weren't impacted.
Yearn Finance, a prominent player in the yield-farming sector, recently reported a critical error in its multi-signature (multisig) script. This error led to an unintended transfer and subsequent swap of a substantial portion of its treasury, resulting in a loss estimated at $1.4 million.
In a significant setback for Yearn Finance, a leading player in the decentralized finance (DeFi) sector, a script malfunction in its multisig (multi-signature) system led to a substantial loss of its treasury assets. The incident on December 11 resulted in the unintended swap of Yearn's treasury balance, amounting to a loss of approximately 63%.
In a recent development, decentralized finance (DeFi) protocol Yearn Finance faced a major setback as a faulty script led to the inadvertent swap of 63% of its treasury. The incident occurred during a routine token conversion process, impacting Yearn's protocol-owned liquidity (POL) but leaving user funds unscathed.
Updated Dec. 13, 2023 at 1:33 pm ET: Modified headline and context following Yearn clarification.
Yearn is asking users who profited from the bug to return a "reasonable" amount to the protocol's multisig.
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Around $9 million in dYdX v3's insurance fund, roughly 40% of its total v3 funds, was used to process liquidations after an organized attack this weekend.
In the dynamic world of decentralized finance (DeFi), Yearn.finance (YFI) has recently garnered significant attention due to its impressive performance in the yield farming sector. The medium-capped altcoin, with a total value locked (TVL) of approximately $332 million, has witnessed a remarkable 75% increase over the past four weeks.
Decentralized exchange dYdX has been compelled to utilize its insurance fund to cover losses amounting to $9 million caused.
Taipei-based crypto trading firm Kronos Research acknowledged a security breach resulting in a $26 million hack from unauthorized access to its API keys.
Yearn finance YFI token experienced a crash, plunging over 43%. Why did Yearn Finance crash?
Recent data analysis reveals a significant decline in the performance of YFI, the native token of the Yearn Finance platform. In a dramatic overnight development, the native token of the Yearn Finance ecosystem witnessed a staggering 40% plunge.
dYdX deployed $9 million from v3 insurance fund to cover YFI market liquidations, suspecting targeted attack and market manipulation. No user funds affected, insurance fund remains at $13.5 million.
In the rollercoaster world of cryptocurrencies, yearn.finance (YFI) is currently riding one of the most vertiginous drops, leaving many in the crypto community both baffled and concerned. Over the past 24 hours, YFI has nosedived over 35%, and the ripple effect of this plunge is palpable, with over $4.7 million worth of liquidations.
The attack on dYdX came as a result of targeting YFI's long positions. $9 million has been used to cover funds lost in the attack.
