value defi hack

About

value defi has had a rough few months as the yield and dex aggregator and automated market maker protocol has fallen victim to three different hacks in the past six months. the latest comes as a twofer—two in one week. value defi lost $10m early last week to hackers, followed by another $11m attack on friday may 7. and in november 2020, value defi fell victim to a $7m hack. during the latest attack, a profit-sharing pool was exploited in a manner where the hacker turned himself into the sole operator of the pool and drained the original stake token (vbwap/busd lp). then the hacker removed all of the tokens, and removed liquidity to receive over 7300 vbswap and 205k busd, before selling the vbswap for nearly 8800 bnb on 1inch, using the bnb and busd to buy renbtc, and ultimately using renbridge to swap the funds into btc.

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