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ID:

yearn-finance-405

Date:

Status:

Incident Count:

February 5, 2021

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

MixBytes, Trail of Bits, Peckshield, Certik, ChainSecurity

Loss Amount:

2,800,000

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Multi-Chain

Protocol

Yield Aggregator

Flash Loans

Extended Method:

Flash loan attack

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Days in Operation:

956

(2.62 Years)

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Yearn Finance stated that its yDAI vault was exploited for the loss of $11 million. They added that the vault is no longer vulnerable. Though the attacker robbed Yearn of $11 million, exorbitant fees cost them millions to execute the hack. They reportedly only profited $2.7 million, while liquidity pool fees and staker fees during the attack both came to $3.5 million each. Aave v2 fees amounted to $1.4 million. The hacker took out a series of flash loans from dYdX and Aave, then used the funds as collateral for another loan on Compound. In doing this, the attacker essentially gamed the exchange rates on Yearn to accumulate CRV tokens to sell for stablecoins.

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