Euler Finance DeFi Protocol Hacked for $190 Million
On March 13, the independent analyst CIA Office said on Twitter that according to the monitoring of the security team BlockSec, the DeFi loan agreement Euler Finance was suspected to have been attacked. At present, 8.89 million DAIs and 8080 WETHs have been stolen. The latest data on the chain shows that the attack seems to be continuing, with a total loss of more than 190 million dollars.
Euler Finance is suspected to have been attacked, and 8.89 million DAIs and 8080 WETHs were stolen
Analysis based on this information:
The decentralized finance (DeFi) sector is one of the fastest-growing areas within the crypto ecosystem with various protocols offering lending and borrowing services. However, this sector is also quite notorious for its vulnerability to cyberattacks, and the latest victim is Euler Finance, a loan agreement protocol. The company has been reportedly hacked, leading to the loss of more than $190 million as of the latest data on the chain.
On March 13, the CIA Office, an independent analyst, shared news on Twitter that Euler Finance was suspected of being attacked. The security team BlockSec was monitoring the incident, which revealed that 8.89 million DAI and 8080 WETH were stolen from the platform. The platform has been experiencing ongoing attacks, leading to a significant loss. The exact details of how hackers gained access to the platform or the extent of the attack are not yet clear.
As per the initial investigation, Euler Finance has been attempting to recover the stolen assets, but it is still unclear if they will be successful. Meanwhile, other DeFi protocols have implemented measures to avoid similar security breaches. The DeFi industry is still in its early stages and is continually working towards making the sector more secure for its users. However, the lack of regulations and central authorities make it susceptible to attacks, which can result in massive losses for users.
This incident is a reminder of the critical need for DeFi protocols to work on improving their security measures continuously. The DeFi ecosystem’s growth and development rely on users’ trust, which can be easily lost if protocols are vulnerable to such attacks. It is essential to enforce robust security standards to prevent similar breaches and establish a safer environment for DeFi users.
In conclusion, the Euler Finance DeFi protocol hacking is a significant threat to the DeFi space, a sector that has become increasingly popular in recent years. This event highlights the need for better security measures by DeFi protocols to safeguard users’ investments. It also highlights the need for regulatory oversight, which can provide an additional layer of security to the cryptocurrency ecosystem.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/7695.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Ether Capital Launches New Tool for Analyzing Ethereum Pledge Operations
On February 22, the Canadian listed company Ether Capital announced the launch of the beta version of its pledge dashboard, which is an advanced analysis tool …
-
Aavegotchi community launches “Aavegotchi Forge” to enhance NFT game protocol
It is reported that the community members of Aavegotchi DAO have completed the vote on Monday (February 13) and announced the launch of \”Aavegotchi Forge\”, whi…
-
Avalanche Successfully Activates Cortina Upgrade on Fuji Testnet: An Insight
On April 7th, according to a tweet from Patrick O\’Grady, the engineering director of Ava Labs, Avalanche successfully activated the Cortina upgrade on the Fuji testing website at 2
-
What currency is easy to dig (easy to dig currency)
<img src='https://img.doulai.com/pic/enpic.php?k=What currency is easy to dig ' alt='What currency is easy to dig images} What currency is easy to dig According to BitcoinExchangeGuide, the price of Bitcoin reached a historic high of $20000 in December 2018 and reached a new high at the end of January this year. According to data from CoinMarketCap, the top five Cryptocurrency with market capitalization are BTC, ETH, XRP, BCH and LTC; The second to third place is Litecoin, with a 24-hour trading volume of 800 million yuan What is currency easy to dig? What is the reason to ensure that these coins can maintain stable prices? The answer is: because it has no technological breakthroughs. This means that if a miner doesn’t sell all their computing power, they can earn more profits In addition to mining, what other tokens can be invested to facilitate mining? What tokens can be used for investment? What currency is easy to dig Easy to Dig CurrenciesAccording to…
-
Euroease Launches BLUR Recharge, Trading and Withdrawal on its platform
According to the official news of Euroease, Euroease has opened BLUR recharge at 04:00 (HKT) on February 14. The opening time of BLUR/USDT and BLUR/USDC is 01:…
-
Mutant Ape Yacht Club (MAYC) Trading Volume Surpasses $2 Billion
According to the latest data of CryptoSlam, the trading volume of Mutant Ape Yacht Club (MAYC) has exceeded US $2 billion, reaching US $2005643780 so far, with…
-
What is the price for Kyber crowdfunding (bzz crowdfunding price)
what price for kyb crowdfunding according to official information, what price for kyb crowdfunding? How does Cyber operate? There are several common problems in traditional financial markets: users cannot obtain funds through KYC and AML. Currently, most exchanges refuse such services or requirements; For those who hope to obtain funds at low interest rates, these costs are not high. The Kyber platform provides a transparent, fair, and secure choice where all participants can receive rewards. So many people are using KYC (Verifiable Random Functions) because it is a decentralized system Therefore, in order to enable users to manage transactions effectively, it can complete the purchase and sale orders of Cryptocurrency without the intervention of a third party in a completely licensing free manner bzz Crowdfunding PriceAccording to the official news of the ZBG Exchange, Bzz has launched crowdfunding activities on the ZBG official website. The price is 0.002 US dollars (current market price is 0.025 US dollars), with a maximum…
-
Visa Stays Committed to Cryptocurrency After Setbacks
According to reports, payment giant Visa said on Tuesday that despite some setbacks in the encryption industry recently, the company is still committed to inve…
-
National Australia Bank Conducts First Inter-Bank Cross-Border Transaction with Ethereum
According to reports, National Australia Bank said that it had completed the first inter-bank cross-border transaction through Ethereum using its own stable currency. The transaction is part of the pilot stable currency supported by the Australian National Bank for the Australian dollar. National Bank of Australia intends to issue stable currency with the code of “AUDN”, which will be managed as a liability on its books. The company plans to further support transactions in the Australian dollar, New Zealand dollar, Singapore dollar and US dollar, as well as in the euro, yen and sterling. National Bank of Australia issued stable currency on Ethereum Analysis based on this information:National Australia Bank (NAB) has successfully completed the first inter-bank cross-border transaction using Ethereum, facilitated by its own stable currency. This transaction is part of the pilot program launched by the Australian National Bank, where the stable currency supported by them for Australian dollars will be used. The stable currency is issued by…
-
Bidding War Over First Republic Bank: A Look at the US Regulatory Agencies’ Auction
On May 1st, sources familiar with the matter said that in a bidding competition held by US regulatory agencies on Sunday, banks such as PNC Financial Services Group, JPMorgan Chase