, causing the loan to be significantly undercollateralized, leading to the protocol's loss and a depeg of its stablecoin.of Defrost Finance’s v1 and v2 protocols on Dec. 23, where an attacker carried out a flash loan attack by adding a fake collateral token and a malicious price oracle to liquidate the protocol.stolen from the v1 protocol to an address controlled by Defrost, though funds are yet to have been returned for the v2 hack.
CertiK labeled the exploit an “exit scam” due to the fact an admin key was required to conduct the attack. Defrost
In December, $15.5 million worth of exit scams was the method that stole the most value over the month, followed by the $7.6 million worth of flash loan-based exploits.
How can we better protect ourselves from exit scams in the crypto world?
Has anyone had personal experience with a flash loan-based exploit? How did you handle it?
Do you think the decrease in crypto theft in December is due to holiday season, or is there another reason?
Which of the 23 major crypto theft incidents in December was the most impactful?
Drainers did not take a break. 🐒got over 1/2 Million with their 30% commission alone in December! 😤
24% of the total is Helio protocol
Only stolen funds I want talked about by lawmakers is SBF and FTX…
Hackers are people too. And they also want to rest by the end of the year 😀
Taking a break? Bro they took it all. Ain’t nothing left out here.
Maybe they too are frozen due to Crytpo winter 🙂
Unprecedentedly low RSI on the monthly chart 👀 BTC has never been so oversold on this timeframe!
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