Yearn Finance lost $1.4m due to a multisig script error
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. The Yearn Finance team appealed to project users who received assets due to a bug with a request to return the funds. The error occurred when Yearn Finance converted his yVault LP-yCurve (lp-yCRVv2), obtained through farming fees, into stablecoins on the decentralized exchange CowSwap. “A faulty multisig script caused Yearn’s entire treasury balance of 3,794,894 lp-yCRVv2 tokens to be swapped.” Yearn Finance team Yearn Finance suffered a significant setback when it received 779,958 yVault DAI tokens (yvDAI) from the transaction, causing the value of the liquidity pool from its treasury to drop 63% from the lp-yCRVv2 spot price at the time. According to Etherscan, one arbitrageur has already transferred 2 Ether (ETH) wor...