DeFi Disaster: How Hackers Pilfer $3.26 Million From A Major Protocol | Headlines | News | CoinMarketCap
07/22/2023 16:59
Conic Finance, a major player in the DeFi industry, has faced a setback following an exploit that targeted the ETH Omnipool within the Curve Finance …
Bitcoinist17 minutes ago
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Published on July 22, 2023 09:40 GMT+00:00edited on July 22, 2023 09:44 GMT+00:00
Conic Finance, a major player in the DeFi industry, has faced a setback following an exploit that targeted the ETH Omnipool within the Curve Finance ecosystem. DeFi has been praised for its potential to distribute power among communities, but recent exploits have raised concerns about scalability.
On Friday, the Beosin Alert reported that a significant amount of cryptocurrency was stolen and sent to a new Ethereum address in a single transaction. The hacker managed to steal 1,727 ETH, valued at $3.26 million.
Conic Finance promptly confirmed the news on Twitter and assured the public that they are actively investigating the exploit and will provide updates as they become available.
Seems @ConicFinance was exploited for $3.26M in tx: https://t.co/K0VjnFprAE
The stolen funds were …