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❕NEWS About $2.7 million stolen funds frozen by stable coin tether company.

Rollerkid

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On Thursday, one of the greatest DeFi coins, yearn.finance had an attacked and lost about $11 million dollars in DAI stable coin.

The hacker was able to transfer about 2.7 million dollars while the other $8 and below was consumed as fee.

In the process of transferring the $2.7 million, tether stable coin company was able to freeze about $1.7 million of the stolen funds and that means the hacker was able to take away a million dollar away.

Now my question, why is it that most of the crypto crimes are always executed on DeFi projects because I can remember that last year about 20% crypto crimes were on the DeFi projects?
 

Niftyicon

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Thankfully, some of the funds were saved and over $8m for fees? You are right about these Defi projects suffering so much attack in recent times.
 

Wisdom01

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I think maybe its because they find it more easier than the non defi project ,because there was also an attack on cover token also some months back ,so they are always targeting defi project
 

Rollerkid

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I think maybe its because they find it more easier than the non defi project ,because there was also an attack on cover token also some months back ,so they are always targeting defi project
Maybe you are right on this. I guess the problem is from their security systems because almost all the crypto crimes are executed on DeFi projects starting from last year till now.
 

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Maybe you are right on this. I guess the problem is from their security systems because almost all the crypto crimes are executed on DeFi projects starting from last year till now.
I just hope they could be a way to reduce the rate , like there should be high regulation or people should be more enlightened about it
 

Rollerkid

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I just hope they could be a way to reduce the rate , like there should be high regulation or people should be more enlightened about it
Yeah, l hope same too and from sources it's like All the DeFi projects are coming together to build more security systems for their platforms.
 

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Atleast tether has done something and they didn't tolerate what the hacker did. But still millions of dollars being stolen just like that is crazy. Wish there's a way to get those hackers caught
 
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