He robs the world without Ethereum’s banks and makes $2.8 million – yEarn looted by a clever guy.

He robs the world without Ethereum's banks and makes $2.8 million - yEarn looted by a clever guy.

We’re back on tour – DeFi yEarn protocol was under attack. In total, the protocol suffered a loss of $11 million, while the attacker walked away with $2.8 million.

yEarn in the hacker’s sights

yEarn in the hacker's sights

The information came in late Thursday evening, February 4.

Banteg, one of the developers of the yEarn project, warned users on Twitter that an attack on the DAI vault had taken place, resulting in the loss of $11 million.

Yearn DAI v1 vault got exploited, the attacker got away with $2.8m, the vault lost $11m. Deposits into strategies disabled for v1 DAI, TUSD, USDC, USDT vaults while we investigate. pic.twitter.com/1RWYyyu0d5m

To ensure the security of the remaining funds, the DAI, TUSD, USDC and USDT strategies have been suspended.

We had to wait for Igor Igamberdiev’s tweet from The Block media to get more details about the attack.

Attacker profit:- 513k DAI- 1.7M USDT- remaining 506k 3CRV (~$1)

To obtain such a profit, the attacker executed 11 transactions. Below is a very superficial explanation of what was happening in these transactions👇

The hacker’s loot is estimated at $2.8 million.

The course of the attack

The course of the attack

In fact, this attack was carried out in a classic manner, notably thanks to several flash loans.

According to Igor Igamberdiev, the course of the hack was as follows:

Once the Compound loan and the flash loans were paid off, the attacker was left with a residual $2.8 million, literally tapped with the yEarn protocol.

This attack is really bad news for the yEarn protocol. Until now, it had managed to get through the DeFi hacks. How will the protocol king of decentralized finance react? To be continued.

Does the Kraken exist?

Does the Kraken exist?

Although the name kraken never appears in the Scandinavian sagas, this creature comes from Norway. There are sea monsters, the Hafgufa and the Lyngbakr, described in the Örvar-Odds saga (the Örvar-Oddr saga) and in the Konungs skuggsjá, u0153 Norwegian work of 1250.

Who killed the Kraken?

On this island is also the remains of the Kraken, killed by the guns of the Flying Dutchman.

Where does the Kraken live?

Where does the Kraken live?

In his Natural History of Norway (1752), Erik Ludvigsen Pontoppidan, Bishop of Bergen, describes the kraken as « a beast one and a half miles long which, if it clings to the largest warship, sinks it to the bottom » and states that it « lives on the seabed, from which it only rises….

How do I buy Bitcoins on Kraken?

How do I buy Bitcoins on Kraken?

Unlike other platforms, you can deposit Euros directly on Kraken, which then allows you to buy Bitcoin or any other available cryptomony. Please note, however, that depositing Euros is not possible with a credit card. Only bank transfers are accepted by Kraken.

What crypto about the Kraken?

Creation July 28, 2011 and March 2020
Head Office San Francisco
Website kraken.com [archive] www.kraken.com [archive]

What’s the charge on Kraken?

The costs on Kraken are relatively low compared to what is observed on the market. On average, transaction fees range between 0.15% and 0.25%, and vary mainly according to transaction volume. Withdrawal and deposit fees vary by currency.

Which crypto to buy?

Crypto currency: 7 virtual currencies to follow in 2021

  • Bitcoin: the crypto currency . . .
  • Ethereum : Bitcoin challenger and the most used crypto …
  • Binance Coin : the crypto that invites itself into the big league. …
  • Ripple: much more than a crypto, a passport to decentralized finance.

Where to buy Bitcoins?

and more intuitive brokers (Coinbase, Coinhouse, etc.). The latter are generally simpler to use but charge higher fees. There are also a few physical counters in Paris (Coinhouse), Caen (Bitcoin Avenue), Brest (Byzantine) or Bordeaux (Comptoir des cybermonnaies).

How do I make a transfer to Binance?

Before making the bank transfer, you will need to register with Binance Jersey and pass the KYC (identification process). This KYC is mandatory and must match the identity information of the bank account with which you wish to make the transfer.

He robs the world without Ethereum’s banks and makes $2.8 million – yEarn looted by a clever guy.
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