Ethereum Defi Dapp Harvest Flashloan “Attacked,” Funds Gone to Binance

harvest flashloan attack oct 2020

A defi dapp with more than half a billion in locked assets says it was economically attacked through a flashloan. “The economic attack was performed through the curve y pool, stretching the price of the stablecoins in Curve out of proportion and depositing and withdrawing a large amount of assets through harvest,” they said in an announcement, adding: “At this point… to protect users, 100% of Stablecoin and BTC curve strategy funds have been withdrawn from the strategy to the vault. Next: to protect users, we are moving to block deposits to the Stablecoin and BTC vault. Existing deposits will continue to earn FARM.Like other recent flash loan attacks, the attacker sent back $2,478,549.94 to the deployer in the form of USDT and USDC. This will be distributed to the affected depositors pro-rata using a snapshot.Action steps complete: 1) All funds withdrawn from curve to vault2) Deposits disabled for stablecoins…

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