Today, June 29th, two of the multi-token pools on DeFi platform Balancer were drained of ~$450,000. The attacker conducted the attack in two separate flashloan transactions by draining one liquidity pool until close to zero. The firm’s co-founder and CTO, Mike McDonald, confirmed that hackers drained at least two of their pools that contained deflationary tokens STA and STONK. He admitted that hackers exploited security vulnerabilities in those tokens to trick their pools into selling them Ether, WBTC, LINK, and SNX with a total loss of 601.3 ETH, 11.36 WBTC, 22,593 LINK, and 60,915 SNX totalling around $450,000.
Mike McDonald, the co-founder & CTO of Balancer, confirmed in a Medium post on Sunday that hackers launched the attack in two installments. The first one took place at 0603 UTC, while the other happened about 30 minutes later at 0649 UTC. Both the attacks exploited STA and STONK, deflationary tokens with 1 percent transfer fees.
As we know, there is a huge competition know in the DEFI space, expecially between the tokens involved in yield farming. But there is no easy profit and there are risks involved. My man here pointed out this from the beginning:
Be careful, very careful, in the end there are your money we talk about!
G.
My crypto-related links (check ratings - 1 to 5 stars based on my personal experience)
Games to gain crypto
***** League of Kingdoms - link here: similar with Heroes of Might and Magic (worldwide - paying in DAI)
**** DogeWars - link here (paying in Doge, 10-100 Doge initial investment, fight bosses and 1vs1 arena)
Exchanges
***** Binance( good for staking/savings ) - link here
***** Kucoin( good for staking/savings ) - link here
***** Coinbase( ideal for beginners )- link here
Investments
**** BlockFi (decent interest rates, but less choices than Celsius) - link here
***** Celsius.network (good rates of interests and monthly codes for free crypto, 1235256530 => my referral for $10 bonus ) - link here
**** Coinbundle (investing in crypto bundles) - link here
**** Stakecube (staking, masternodes and very easy to claim faucets for 28 coins/tokens) - link here
Wallets for multiple cryptocurrencies
***** Coinpot - link here (microwallet for all Moon faucets, Bitfun and Bonusbitcoin)
***** Atomic wallet - link here (microwallet for PUBLISH0X DAI, BAT and Loopring)
***** Spherewallet (for Horizen, combined with the faucet for extra bonus) - link here
**** Crypto.com wallet (good interest staking and 50$ bonus in MCO) - link here
Free crypto (faucets and more)
****Lbry.tv (free crypto for watching or making videos) - link here
**** Bitfun( 3 min countdown - automatically deposit to Coinpot wallet ) - link here
*** Bonusbitcoin( 15 min countdown - automatically deposit to Coinpot wallet ) - link here
**** Moon Bitcoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here
***** Horizen faucet ( 20 hours countdown - automatically deposit to Sphere wallet ) - link here
*** Tezosfaucet ( 7 days countdown - automatically deposit to COINBASE or BINANCE wallet ) - link here
** Tron and other crypto faucet (24 hours countdown) - link here
Others
***** Publish0x blog (Free BAT, DAI and Loopring for reading/writing - can combine with Atomic wallet) - link here
***** Brave browser (Free BAT for using it, based on paid ads, very good AdBlocker and high speed) - link here
Disclaimer: This text also can be re-published on my personal blogs, such as this one.
