Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Flash Loan Attack
Lodestar Suffers $6M Flash Loan Attack
A lending protocol in the Arbitrum ecosystem, Lodestar Finance has fallen victim to a flash loan attack. On December 10, a malicious actor was able to cart off about $5.8M in loot from the platform. Lodestar has since posted a Twitter thread explaining how the culprit was able to do so. Hacker Tweaks Exchange Rate, Withdraws Liquidity Per the post, the attacker’s approach was to manipulate the swap rate of the network’s plvGLP contract. The culprit set the rate at…
2 years ago
NFD Loses 99% of its Value After Flash Loan Attack
According to circulating reports, on Thursday, September 8 DeFi project New Free DAO fell victim to a series of flash loan attacks. The exploits may have seen the company suffer losses scaling $1.25 million causing the value of its native token to tank. Notably, the price of the NFD token has fallen by about 99% following the attack. PeckShield Sounds the Alarm News of the attack initially emerged via a report from blockchain security firm PeckShield Alert. The company sounded…
3 years ago