NFT News by Thebittimes.Com

Euler Finance became the victim of a flash loan attack where the exploiter managed to drain hundreds of millions worth of decentralized stablecoins and synthetic ERC-20 tokens. Ethereum-based non-custodial lending protocol Eurler finance faced a flash loan attack on March 13, with the attack er managing to steal millions in DAI, USDC, staked Ether (StETH) and wrapped Bitcoin (WBTC). According to on-chain data, the exploiter carried out multiple transactions stealing nearly $196 million as per the last update. On-chain data analytic firm Certik data indicates the exploiter has stolen nearly 43 million in decentralized stablecoin DAI and nearly 93,800 in wrapped Ether (wETH). The ongoing attack has already become the largest hack of 2023.  The breakdown of stolen funds are as follows: Funds stolen from Euler Finance. Source: BlockSec. According to another crypto analytic firm Meta Seluth, the attack er is correlated with the deflation attack that occurred one month ago. The attack e...

Following a failed short attack, DeFi exploiter Avraham Eisenberg was liquidated from Aave at a loss of $10 million. According to a new post on Jan. 26, Marc Zeller integrations lead at decentralized finance (DeFi) lending protocol Aave stated that the firm purchased 2.7 million Curve (CRV) tokens which would clear "excessive remaining bad debt" within the next 15 hours over a dozen transactions. The move follows the community approval of Aave Improvement Protocol (AIP) 144, which deployed a swap contract that acquires 2,700,000 units of CRV, with a USDC spend limit of $3,105,000 and max unit value of $1.15 per CRV token. The bad debt on the Aave protocol resulted from a sophisticated exploit that took place on Nov. 23. Avaraham Eisenberg, who previously drained DeFi protocol Mango Markets and caused $47 million in net damages, took on a series of heavy volume short CRV positions on Aave in an attempt to orchestrate a short squeeze and force developers to buyback his posi...