The self-proclaimed compound return optimizer – Grim Finance – has reported being hacked in a re-entry exploit with the attacker sliding up to $ 30 million in Fantom tokens.
- The DeFi protocol took it to Twitter on Sunday to notify its users of the hack. The team described it as an “advanced attack,” in which the author exploited the project’s vault contract through five reentry loops.
- This allowed the attacker to forge five more deposits in a safe deposit box and ultimately took $ 30 million in FTM, according to this address. The hacker has already sent most of the tokens to other DEXs.
- The team said it had temporarily suspended all of its vaults to “prevent future funds from being put at risk” and urged all users to withdraw their funds.
- According to data from DeFiLlama, clients followed the advice of Grim Finance. The total value locked in the DeFi protocol was almost $ 120 million before the hack, but it is now only $ 4 million.
Hello Grim community,
It is with a heavy heart that we inform you that our platform was exploited today by an external attacker about 6 hours ago. The attackers’ address has been identified with over $ 30 million in theft here https://t.co/qA3iBTSepb
– Grim Finance (@financegrim) December 19, 2021
$ 100 Free on Binance (Exclusive): Use this link to sign up and receive $ 100 Free and 10% Fee Discount on Binance Futures in the first month (terms).
PrimeXBT Special Offer: Use this link to sign up and enter the code POTATO50 to get a 50% free bonus on any deposit up to $ 1750.