2 years ago
The tokens of non-custodial wealth marketplace and lending protocol Agave (AGVE) plunged implicit 20% connected Tuesday aft the institution said it’s looking into an exploit.
“Agave is presently investigating an exploit connected the agave concern protocol. We volition update you arsenic soon arsenic we cognize more,” the DAO said successful a tweet connected Tuesday afternoon. “Contracts person been paused until we fig retired however to resoluteness the situation."
Another multi-chain lending protocol connected the Gnosis chain, Hundred Finance was besides attacked, according to a tweet from the platform. “Unfortunately Hundred and Agave person some been exploited connected Gnosis concatenation today,” Hundred wrote. “Gnosis squad is aware, probe is ongoing. All the Hundred markets connected each chains paused for now.”
Hundred Finance’s token, HND, was modestly little successful Tuesday action..
That’s made imaginable due to the fact that “the authoritative bridged tokens connected Gnosis are non-standard and person a hook that calls the token receiver connected each transfer,” Gupta wrote. According to Gupta, the attackers were capable get backmost much than the collateral they were depositing, and continually repetition the process by repeatedly re-entering the system.
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Michael Bellusci is CoinDesk's crypto payments reporter.
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