Prominent DeFi Coin Pickle Finance Plunges 50% in Wake of Attack

Prominent DeFi Coin Pickle Finance Plunges 50% in Wake of Attack


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Holders of Pickle Finance’s native coin PICKLE are currently suffering from a 50% drawdown after the protocol was attacked by an unknown user. Details are still unclear about the attack but the loss of funds has resulted in users pulling their liquidity and selling the cryptocurrency en-masse.

PICKLE is down to $11.50 as of this article’s writing, just under 50% below where it was 24 hours ago. This makes it one of the worst-performing cryptocurrencies of the past 24 hours. Only bad performers include yAxis and Yield Wars, which both are tangentially related to Pickle.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom What Happened With Pickle?

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Approximately three hours ago, analysts noticed a suspicious transaction involving Pickle Finance’s pDAI Jar, which invests users’ DAI to earn regular returns paid out in DAI.

The transaction involved a complex Ethereum contract, coupled with $20m worth of DAI that got sent to an address that was not

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