ID:
harvest-finance-451
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Ethereum
Protocol
Yield Aggregator
Flash Loans
Extended Method:
Flash loan attack
Days in Operation:
769
(2.11 Years)
100 pts each
Decentralized finance (defi protocol) Harvest Finance was hacked on Monday for $24 million. The attacker targeted the protocol’s liquidity pools, performing an arbitrage attack using a large flash loan – a type of uncollatarized loan – but later returned $2.5 million. In seven minutes, the hack was complete. Harvest Finance revealed that the hacker “manipulated prices on one money lego (curve y pool) to drain another money lego [farm USDT (fUSDT), farm USDC (fUSDC)], many times. The attacker then converted the funds to renBTC and exited to bitcoin.”
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