Ethereum-based DeFi platform Inverse Finance said it has temporarily paused borrowing after an exploit was discovered.
The platform said on its Twitter handle that holdings of the DOLA stablecoin were removed from its money market, Frontier. It added that no user funds were taken or at risk, and that it was investigating the incident.
But reports from other Twitter users, citing on-chain data, showed that at least $1.2 million had been taken from the platform. It was not immediately clear if the funds were from user wallets.
53 Bitcoin, and $100,000 Tether tokens were taken, according to @DeFiyst. The exploiter then sold the tokens via Uniswap and sent the profits to crypto mixer Tornado Cash.
Inverse Finance’s second major hack in two months
The hack, which was done by manipulating certain price oracles on the platform, is the second such incident faced by Inverse in two months.
