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Detail Analysis

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Date:

Status:

Count:

Contributor:

February 5, 2021

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Verified

1

zerofriction.io

Loss Amount:

2,800,000

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Recovered Amount:

-

Currency:

Dollars

KYC By:

Audit By:

None

None

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Website:

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Multi-Chain

Protocol

Yield Aggregator

Flash Loans

Extended Method:

Flash loan attack

Data Sources:

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Yearn Finance stated that its yDAI vault was exploited for the loss of $11 million. They added that the vault is no longer vulnerable. Though the attacker robbed Yearn of $11 million, exorbitant fees cost them millions to execute the hack. They reportedly only profited $2.7 million, while liquidity pool fees and staker fees during the attack both came to $3.5 million each. Aave v2 fees amounted to $1.4 million. The hacker took out a series of flash loans from dYdX and Aave, then used the funds as collateral for another loan on Compound. In doing this, the attacker essentially gamed the exchange rates on Yearn to accumulate CRV tokens to sell for stablecoins.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.