2 days into June, and 2 DeFi exploits have happened already!
@TesseraDAO on the BNB Chain suffered a similar exploit to @Aave in April, where instead of $rsETH, 100 million $TSR tokens (worth $2-$3 million) were falsely minted and used as collateral to withdraw $USDT.
Fluid lending (@0xfluid) lost over 100,000 $FLUID tokens and some $cbBTC (worth over $215,000) as their @Merkl_xyz rewards distribution system was compromised and rerouted into an attacker's wallet.
Both communities have been shocked by these exploits and will want to know if their funds are safe and how the protocols plan to recover from and overcome this.
Both teams will now have support gaps that allow even more exploits to happen, not due to technical issues, but due to a lack of scalable community customer support that comes from not using @Web3Automated
2 days into June, and 2 DeFi exploits have happened already!
@TesseraDAO on the BNB Chain suffered a similar exploit to @Aave in April, where instead of $rsETH, 100 million $TSR tokens (worth $2-$3 million) were falsely minted and used as collateral to withdraw $USDT.
Fluid lending (@0xfluid) lost over 100,000 $FLUID tokens and some $cbBTC (worth over $215,000) as their @Merkl_xyz rewards distribution system was compromised and rerouted into an attacker's wallet.
Both communities have been shocked by these exploits and will want to know if their funds are safe and how the protocols plan to recover from and overcome this.
Both teams will now have support gaps that allow even more exploits to happen, not due to technical issues, but due to a lack of scalable community customer support that comes from not using @Web3Automated