Hackers Robbed Grim Finance’s DeFi platform for $30 million
The DeFi platform Grim Finance reported that hackers attacked the platform and stole at least $30 million in cryptocurrency.
According to Grim Finance, the attacker exploited the protocol vault contract and went through five re-entry loops, allowing for five additional vault deposits to be forged while the platform was processing the first deposit.
Because of this, the Grim Finance team suspended all vaults and urged users to withdraw all their funds immediately.
In addition, the platform team shared the hacker’s addresses with Circle (USDC), DAI, AnySwap and others to make further transfers of funds impossible.
According to the Fantom (FTM) Blockchain Explorer, the Grim Finance Exploiter continued transactions on December 19. One of the addresses associated with the exploit contains $1.2 million in Bitcoin (BTC), $1.7 million in SpookyToken (BOO) and $13,700 in FTM tokens.
Earlier, hackers broke into the Vee Finance protocol based on the Avalanche Blockchain and stole $35 million in various cryptocurrencies.