DFX Finance Defi project hacked $ 7.5 million

DFX Finance Defi project hacked $ 7.5 million

The DFX Finance decentralized exchange on the Ethereum, oriented to stabiblcoins, lost digital assets worth about $ 7.5 million as a result of an attack.

Peckshield experts noted that hacking became possible due to “lack of proper protection against re-entrance”.

The Defi Protocol team confirmed the incident:

“We were notified of suspicious activity 20-30 minutes after the first transaction, and we suspended all DFX smart contracts within a few minutes after the attack confirming,” the developers said.

According to Blocksec experts, the attacker took advantage of the flash loans to devastate liquidity bullets, reports The Block. He converted stolen tokens in ETH and brought cryptocurrency worth about $ 4.3 million.

The same assessment was given in Peckshield, drawing attention to the fact that the hacker sends funds to the Tornado Cash mixer.

The volume of the assets protocol blocked in smart contracts collapsed from $ 18.6 million to $ 3.6 million, according to FTX’s Sam Bankman-Fried Defi Llama.

Recall that at the end of October, the losses of Web3 industry as a result of exploits from the beginning of the year approached $ 3 billion, calculated in Peckshield.

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