DeFi Despite positive technological developments, the decentralized finance (DeFi) space is still rife with hacks and exploits. This much was made clear just recently, when $7 million was siphoned out of a cryptocurrency vault based on Ethereum. While many users have been adversely affected by this exploit, the unknown attack did make a move to return some of the funds.
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On Saturday morning, Ethereum and DeFi analysts noticed that an extremely unusual transaction had taken place.
A user had withdrawn 80,000 ETH worth of flash loans from Aave, along with $116 million in flash loans from Uniswap, according to analysts. The user subsequently used that capital to manipulate the price of stablecoins on Curve to withdraw around $7 million from Value DeFi, a yield aggregator protocol.
In total $7.5 million was stolen, though $2