Hacker attack on Lendf.Me

The Lendf.Me decentralized finance (DeFi) platform has recently been relieved by $ 25 million.The DeFi-Lending Protocol Lendf.Me had to cope with an attack on April 19. Unknowns were able to steal an estimated $ 25 million from crypto assets.Lendf.Me managing director Mindao Yang announced this in a blog entry on Medium. The employees had learned of the attack in the morning hours of April 19 through the internal monitoring system. Subsequently, Lendf.Me forced to shut down operations to analyze the situation, Yang said.

“The tokenized BTC is able to interact with smart contracts and can be easily integrated into decentralized transactions and financial services, and gives the Ethereum ecosystem more liquidity. […] Like Bitcoin, but without the disadvantages of Bitcoin.”

 

What is wrong with DeFi?

The DeFi protocol MakerDAO also recently experienced new turbulence. The market slump in the wake of the Corona crash on “black Thursday” made it possible for bots to buy positions on the maker platform (collateral debt positions, CDP) at no cost. Investors had to cope with losses in the double-digit million range. The Maker Foundation is now facing a lawsuit. It is said to have known about this vulnerability and to deliberately hide investors from this danger.