Is DeFi Now Dead? Inside the dForce / LendfMe 25 Million USD Hack!

Written by julianhosp | Published 2020/04/20
Tech Story Tags: blockchain | defi | fintech | hacking | lendfme | dforce | investing | cryptocurrency

TLDR Hackers used a vulnerability in Uniswap and ERC777 to launch an attack. The capital in dForce Foundation dropped by 99.9%! Lendf.me has lost more than $24.5 million in funds. Hackers use an exploit published on GitHub in July 2019 by OpenZeppelin, a company that performs security checks for cryptocurrency platforms. The combination of the use of ERC-777 tokens and Unis wap/Lendfme made the reentrancy attacks possible.via the TL;DR App

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Written by julianhosp | Co-Founder CakeDeFi & I-Unlimited, Bestselling Author, Keynote Speaker, Medical Doctor, Athlete
Published by HackerNoon on 2020/04/20