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Title: Flash Loan Attack On A Warp Finance Protocol, About $8 Million Stolen Post by: Bitcoinmoon12 on December 18, 2020, 02:52:38 AM DeFi lending protocol Warp Finance has reportedly suffered a flash loan attack resulting in the loss of as much as $8 million in digital assets.
"We are investigating irregular stablecoin loans taken out in the last hour, we recommend that you do not deposit anymore stablecoins until we have clarity on the irregularities." said Warp Finance. Source: https://azcoinnews.com/flash-loan-attack-on-a-warp-finance-protocol-about-8-million-stolen.html Title: Re: Flash Loan Attack On A Warp Finance Protocol, About $8 Million Stolen Post by: asriloni on December 18, 2020, 03:34:40 AM Another flash loan attack happened with defi. I guess this feature must be removed from the defi. There were so many flash loan attack happened with the various platforms. It looks like the attackers are still the same with the hackers who have been hacking so many defi platform in the past. The developer of this defi platform didn't even learn from the flash loan attack happened on the old defi platform.
We need yo count how much the next defi platforms will be hacked through this method. Title: Re: Flash Loan Attack On A Warp Finance Protocol, About $8 Million Stolen Post by: cryptoaddictchie on December 18, 2020, 03:48:56 AM DeFi lending protocol Warp Finance has reportedly suffered a flash loan attack resulting in the loss of as much as $8 million in digital assets. Indeed this is troublesome news for defi space. But I am watching their telegram group and the admins says they have a plan to get back the 5.5million and will distribute to those who have loss their asset.The team is reassuring this and I've seen tweet from tagged those who are eth maximalist and it looks like they save the day again. https://twitter.com/warpfinance/status/1339751978977685507?s=19 Title: Re: Flash Loan Attack On A Warp Finance Protocol, About $8 Million Stolen Post by: Kemarit on December 18, 2020, 04:31:42 AM Again, it just shows that the whole Defi thingy is very dangerous for investors are it can exploited by hackers anytime they like and stole the hell out of the money that these investors have work very hard. So I'm not a fan, and as I have said before, this is a disaster waiting to happened.
Of course, if they have a plan to recover that 5.5 millon USD, then the platform is not decentralised anymore as they can just tweak and then the money goes back again. And this is not the last that we will hear that a certain protocol has been breach by hackers. Title: Re: Flash Loan Attack On A Warp Finance Protocol, About $8 Million Stolen Post by: masterrex on December 18, 2020, 08:20:14 AM DeFi lending protocol Warp Finance has reportedly suffered a flash loan attack resulting in the loss of as much as $8 million in digital assets. "We are investigating irregular stablecoin loans taken out in the last hour, we recommend that you do not deposit anymore stablecoins until we have clarity on the irregularities." said Warp Finance. Source: https://azcoinnews.com/flash-loan-attack-on-a-warp-finance-protocol-about-8-million-stolen.html It was happening again and again? honestly speaking when I read this kind of news, I'm doubting that Defi is just a milking cow of some bad actors. I'm tired of reading about this "stolen drama" Because I believe it is an organized activity in the very beginning. That's, why we can't, blame people/investors to doubt Defi projects because of these "obviously stolen incidents" stories that normally happening today especially in Defi projects. Title: Re: Flash Loan Attack On A Warp Finance Protocol, About $8 Million Stolen Post by: Bitstar_coin on December 18, 2020, 08:27:06 AM The defi space is too vulnerable and prone to attack almost on a daily basis now, it is almost like all this frequent attack are inside job :-X, because i keep asking why is it so easy to attack the defi platform, i know the non defi platform also experience attack every now and then but the defi attack is becoming very alarming, this is ridiculous so to speak.
Title: Re: Flash Loan Attack On A Warp Finance Protocol, About $8 Million Stolen Post by: DoubleAweSeven on December 18, 2020, 09:03:35 AM Why aren't this DeFi projects coming up with ideas to prevent flash loan attacks? This has happened in the past, there should be at least measures ready to prevent this or handle this kind of things. 8 million dollars is not a joke so I'm thinking that this project would suffer greatly.
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