16 Saturday January 2021
  • About
  • Advertise
  • Submit Press Release
  • Contact Us
Cryptocurrency News | Bitcoin News | Cryptonews | DC Forecasts.com
  • News
    • Bitcoin News
      • Bitcoin News
      • Bitcoin Cash News
      • Bitcoin SV News
      • Bitcoin Scams
    • Altcoin News
      • Ethereum News
      • Litecoin News
      • Ripple News
      • Libra News
      • Binance News
      • Cardano News
      • Huobi News
      • Binance Coin News
      • Coinbase News
      • ChainLink News
      • IOTA News
      • Monero News
      • Ethereum Classic News
      • Dash News
      • Stellar News
      • Tether News
      • Tezos News
      • Tron News
      • Vechain News
      • Dogecoin News
      • Cosmos News
      • EOS News
      • NEM News
      • NEO News
      • Nexo News
      • Zcash News
      • UNUS News
      • USD Coin News
      • MECX Token News
      • Coronavirus News
    • Exchange News
    • Analysis
    • Blockchain News
    • Regulation
    • Press Releases
    • DC Forecasts
      • DC Forecasts Announcements
      • About
      • Daily News Video
      • EDUCATION & RESOURCES
      • Blockchain Archive
  • Education
    • Coronavirus Statistics
    • Cryptocurrency Education
      • 0x
      • Augur
      • Aurora
      • Basic Attention Token
      • Binance Coin
      • Bitcoin BTC
      • Bitcoin Cash
      • BITCOIN DIAMOND
      • Bitcoin Gold
      • Bitcoin SV
      • BitTorrent
      • Cardano
      • Chainlink
      • Cosmos
      • Crypto.com Chain
      • DASH
      • Decred
      • Dogecoin
      • Egretia
      • Energi
      • EOS
      • Ethereum
      • Ethereum Classic
      • Holo
      • Huobi Token
      • Litecoin
      • IOTA
      • Ripple
      • Stellar
      • Tether
      • Zcash
  • Markets
    • PriceIndexes
      • Bitcoin Price
      • Ethereum Price
      • Libra Price
      • Binance Price
      • Bitcoin Cash Price
      • Bitcoin SV Price
      • Cardano Price
      • IOTA Price
      • Crypto.com Chain Price
      • Dash Price
      • Dogecoin Price
      • EOS Price
      • Ethereum Classic Price
      • NEO Price
      • Vechain Price
      • Litecoin Price
      • Huobi Price
      • Maker Price
      • Chainlink Price
      • Monero Price
      • Cosmos Price
      • NEM Price
      • Ontology Price
      • Ripple Price
      • Stellar Price
      • Tether Price
      • Tezos Price
      • Tron Price
      • UNUS SED LEO Price
      • USD Coin Price
      • Zcash Price
    • Cryptocurrency Calculator
      • Bitcoin Calculator
      • Ethereum Calculator
      • Litecoin Calculator
      • Ripple Calculator
      • Dash Calculator
      • Dogecoin Calculator
      • Stellar Calculator
      • Monero Calculator
      • Binance Calculator
      • Cardano Calculator
      • Huobi Calculator
      • Binance Coin Calculator
      • Chainlink Calculator
      • IOTA Calculator
      • Ethereum Classic Calculator
      • Tether Calculator
      • Tezos Calculator
      • Tron Calculator
      • Vechain Calculator
      • Cosmos Calculator
      • EOS Calculator
      • NEM Calculator
      • NEO Calculator
      • Nexo Calculator
      • Zcash Calculator
      • USD Coin Calculator
      • UNUS SED LEO Calculator
    • Reviews
    • Cryptocurrency Exchanges
      • United Kingdom
      • USA
      • Canada
      • South Korea
      • Israel
      • Singapore
      • Australia
      • Mexico
      • South Africa
      • Japan
      • India
  • Directory
    • Bitcoin Businesses
    • Bitcoin Broker
    • Bitcoin Casinos
  • Events
    • Blockchain Events News
  • More
    • NewsletterDaily or Weekly
      • Press Release
      • Blockchain
      • Cryptocurrency Exchange
      • Bitcoin
      • Bitcoin Scams
      • Bitcoin SV
      • Ethereum
      • Ethereum Classic
      • Litecoin
      • Libra
      • Ripple
      • Coinbase
      • Huobi
      • IOTA
      • Monero
      • MECX Token
      • Cardano
      • NEO
      • NEM
      • ChainLink
      • Tether
      • Stellar
      • Cosmos
      • Tron
      • Dogecoin
      • UNUS
      • Tezos
      • EOS
      • Dash
      • USD Coin
      • Nexo
      • Vechain
      • DC Forecasts
    • Mining Calculator
      • Bitcoin Mining Calculator
    • WidgetsFree
      • RSS
      • Generator
    • Press Release
      • Bitcoin Press Release
Newsletter
Cryptocurrency News | Bitcoin News | Cryptonews | DC Forecasts.com
No Result
View All Result
16 Saturday January 2021
Newsletter
  • News
    • Bitcoin News
      • Bitcoin News
      • Bitcoin Cash News
      • Bitcoin SV News
      • Bitcoin Scams
    • Altcoin News
      • Ethereum News
      • Litecoin News
      • Ripple News
      • Libra News
      • Binance News
      • Cardano News
      • Huobi News
      • Binance Coin News
      • Coinbase News
      • ChainLink News
      • IOTA News
      • Monero News
      • Ethereum Classic News
      • Dash News
      • Stellar News
      • Tether News
      • Tezos News
      • Tron News
      • Vechain News
      • Dogecoin News
      • Cosmos News
      • EOS News
      • NEM News
      • NEO News
      • Nexo News
      • Zcash News
      • UNUS News
      • USD Coin News
      • MECX Token News
      • Coronavirus News
    • Exchange News
    • Analysis
    • Blockchain News
    • Regulation
    • Press Releases
    • DC Forecasts
      • DC Forecasts Announcements
      • About
      • Daily News Video
      • EDUCATION & RESOURCES
      • Blockchain Archive
  • Education
    • Coronavirus Statistics
    • Cryptocurrency Education
      • 0x
      • Augur
      • Aurora
      • Basic Attention Token
      • Binance Coin
      • Bitcoin BTC
      • Bitcoin Cash
      • BITCOIN DIAMOND
      • Bitcoin Gold
      • Bitcoin SV
      • BitTorrent
      • Cardano
      • Chainlink
      • Cosmos
      • Crypto.com Chain
      • DASH
      • Decred
      • Dogecoin
      • Egretia
      • Energi
      • EOS
      • Ethereum
      • Ethereum Classic
      • Holo
      • Huobi Token
      • Litecoin
      • IOTA
      • Ripple
      • Stellar
      • Tether
      • Zcash
  • Markets
    • PriceIndexes
      • Bitcoin Price
      • Ethereum Price
      • Libra Price
      • Binance Price
      • Bitcoin Cash Price
      • Bitcoin SV Price
      • Cardano Price
      • IOTA Price
      • Crypto.com Chain Price
      • Dash Price
      • Dogecoin Price
      • EOS Price
      • Ethereum Classic Price
      • NEO Price
      • Vechain Price
      • Litecoin Price
      • Huobi Price
      • Maker Price
      • Chainlink Price
      • Monero Price
      • Cosmos Price
      • NEM Price
      • Ontology Price
      • Ripple Price
      • Stellar Price
      • Tether Price
      • Tezos Price
      • Tron Price
      • UNUS SED LEO Price
      • USD Coin Price
      • Zcash Price
    • Cryptocurrency Calculator
      • Bitcoin Calculator
      • Ethereum Calculator
      • Litecoin Calculator
      • Ripple Calculator
      • Dash Calculator
      • Dogecoin Calculator
      • Stellar Calculator
      • Monero Calculator
      • Binance Calculator
      • Cardano Calculator
      • Huobi Calculator
      • Binance Coin Calculator
      • Chainlink Calculator
      • IOTA Calculator
      • Ethereum Classic Calculator
      • Tether Calculator
      • Tezos Calculator
      • Tron Calculator
      • Vechain Calculator
      • Cosmos Calculator
      • EOS Calculator
      • NEM Calculator
      • NEO Calculator
      • Nexo Calculator
      • Zcash Calculator
      • USD Coin Calculator
      • UNUS SED LEO Calculator
    • Reviews
    • Cryptocurrency Exchanges
      • United Kingdom
      • USA
      • Canada
      • South Korea
      • Israel
      • Singapore
      • Australia
      • Mexico
      • South Africa
      • Japan
      • India
  • Directory
    • Bitcoin Businesses
    • Bitcoin Broker
    • Bitcoin Casinos
  • Events
    • Blockchain Events News
  • More
    • NewsletterDaily or Weekly
      • Press Release
      • Blockchain
      • Cryptocurrency Exchange
      • Bitcoin
      • Bitcoin Scams
      • Bitcoin SV
      • Ethereum
      • Ethereum Classic
      • Litecoin
      • Libra
      • Ripple
      • Coinbase
      • Huobi
      • IOTA
      • Monero
      • MECX Token
      • Cardano
      • NEO
      • NEM
      • ChainLink
      • Tether
      • Stellar
      • Cosmos
      • Tron
      • Dogecoin
      • UNUS
      • Tezos
      • EOS
      • Dash
      • USD Coin
      • Nexo
      • Vechain
      • DC Forecasts
    • Mining Calculator
      • Bitcoin Mining Calculator
    • WidgetsFree
      • RSS
      • Generator
    • Press Release
      • Bitcoin Press Release
Cryptocurrency News | Bitcoin News | Cryptonews | DC Forecasts.com
No Result
View All Result
Bitcoin 24h
$36,902.50
+2.17%
Bitcoin 24h

$36,902.50
+800.54
+2.17%
Ethereum 24h
$1,255.25
+7.92%
Ethereum 24h

$1,255.25
+99.39
+7.92%
XRP 24h
$0.28
+2.22%
XRP 24h

$0.28
+0.01
+2.22%
Bitcoin Cash 24h
$499.26
+4.18%
Bitcoin Cash 24h

$499.26
+20.86
+4.18%
Chainlink 24h
$21.79
+13.49%
Chainlink 24h

$21.79
+2.94
+13.49%
Stellar 24h
$0.30
+6.12%
Stellar 24h

$0.30
+0.02
+6.12%
Cardano 24h
$0.35
+15.68%
Cardano 24h

$0.35
+0.05
+15.68%
Bitcoin SV 24h
$206.85
+1.48%
Bitcoin SV 24h

$206.85
+3.06
+1.48%
Litecoin 24h
$147.04
+5.00%
Litecoin 24h

$147.04
+7.35
+5.00%
Tezos 24h
$3.01
+14.81%
Tezos 24h

$3.01
+0.45
+14.81%
EOS 24h
$2.82
+3.80%
EOS 24h

$2.82
+0.11
+3.80%
Monero 24h
$158.71
+1.61%
Monero 24h

$158.71
+2.56
+1.61%
Neo 24h
$24.05
+3.94%
Neo 24h

$24.05
+0.95
+3.94%
TRON 24h
$0.03
+3.62%
TRON 24h

$0.03
+0.00
+3.62%
IOTA 24h
$0.44
+7.72%
IOTA 24h

$0.44
+0.03
+7.72%
Dash 24h
$129.63
+5.33%
Dash 24h

$129.63
+6.91
+5.33%
Ethereum Classic 24h
$7.97
+6.01%
Ethereum Classic 24h

$7.97
+0.48
+6.01%
Zcash 24h
$110.24
+8.42%
Zcash 24h

$110.24
+9.28
+8.42%
NEM 24h
$0.22
+2.80%
NEM 24h

$0.22
+0.01
+2.80%
Dogecoin 24h
$0.01
+1.32%
Dogecoin 24h

$0.01
+0.00
+1.32%
Binance USD 24h
$1.00
-0.01%
Binance USD 24h

$1.00
-0.00
-0.01%
Crypto.com Coin 24h
$0.08
+11.36%
Crypto.com Coin 24h

$0.08
+0.01
+11.36%
Cosmos 24h
$8.97
+20.16%
Cosmos 24h

$8.97
+1.81
+20.16%
Huobi Token 24h
$5.22
+4.07%
Huobi Token 24h

$5.22
+0.21
+4.07%
Maker 24h
$1,566.39
+7.15%
Maker 24h

$1,566.39
+111.98
+7.15%
Ontology 24h
$0.66
+9.43%
Ontology 24h

$0.66
+0.06
+9.43%
Tether 24h
$1.00
+0.14%
Tether 24h

$1.00
+0.00
+0.14%
UNUS SED LEO 24h
$1.33
-0.32%
UNUS SED LEO 24h

$1.33
-0.00
-0.32%
USD Coin 24h
$1.00
+0.03%
USD Coin 24h

$1.00
+0.00
+0.03%
VeChain 24h
$0.03
+13.39%
VeChain 24h

$0.03
+0.00
+13.39%
ADVERTISEMENT

Harvest Finance Attack Inflated The Price Of Tokens On Curve Finance

Stefan by Stefan
27/10/2020
in Altcoin News
2 min read
0
harvest has, deposits, finance, farm
153
SHARES
1.9k
VIEWS
Share on FacebookTwitterWhatsappGmail
ADVERTISEMENT

The harvest finance attack inflated the price of some tokens in the DeFi space, but the FARM token dropped by 60% at the time of writing. Following the latest developments, we are reading more in the latest altcoin news.

Harvest finance was attacked by using flash loans exploit which led to millions of dollars worth of FARM token getting stolen by hackers and the prices falling over 60%. The team explained in a tweet:

 “The economic attack was performed through the curve y pool, stretching the price of the stablecoins in Curve out of proportion and depositing and withdrawing a large number of assets through harvest.”

We are working actively on the issue of mitigating the economic attack on the Stablecoin and BTC pools, and will update in this thread in realtime as soon as additional details are available

— Harvest Finance (@harvest_finance) October 26, 2020

Attackers exploited the network using a “flash loan” feature which is a tool used to lend assets to crypto-traders for zero collateral as long as the transaction is included in a single block. By taking out a huge loan, in the harvest finance attack, the hackers inflated the price of some tokens on Curve Finance and used it to falsely extract tokens from the platform. Block explorer data showed that the attackers managed to accumulate more than $24 million for their effort. Harvest Finance noted that the exploit was similar to some other economic attacks but the one from this morning originated with a large flash loan and manipulated the prices on one money lego to drain other money lego a few times:

ADVERTISEMENT

 “The attacker then converted the funds to renBTC and exited to BTC.”

Later on, during the Eminence evolution, the attackers sent back over $2.4 million to the developers in the form of USDC and USDT. The amount will be distributed to the affected depositors pro-rata by using a snapshot as the harvest team said. However, the move attracted suspicion from some quarters as the former Monero lead Riccardo Spagni:

“The attacker” sent some funds back because they’re such nice people. If this isn’t strong evidence that “the attacker” and “the devs” are the same then I don’t know what is. https://t.co/lNcE2DkcA6

— Riccardo Spagni (@fluffypony) October 26, 2020

Qiao Wang on the other hand stated that the move was a setback for the Defi space:

 “Really wanted to see anon/pseudon teams succeed in crypto but so far we still only have BTC and arguably XMR I think. Harvest is a huge setback for anon DeFi.”

Uniswap's volume just had a massive outlier and spiked from $148M yesterday to $2 billion today. Why? The $FARM exploiter is running money through Uniswap. Good day for Uniswap LPs. pic.twitter.com/g4HQ3sHFU7

— Larry Cermak (@lawmaster) October 26, 2020

In the meantime, the Block director Larry Cermak noted that the exploits led to a temporary resurgence of trading volume on the decentralized exchange protocol Uniswap as the exchange suffered in the past few weeks and had its volume trickle down to less than $150 million in a day until this morning.

ADVERTISEMENT

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Tags: curve financedefidefi attackdefi protocolfarm tokenflash loanshack attackharvest finance attack
Share61Tweet38SendShare15
ADVERTISEMENT
Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

Related Posts

polkadot flipped
Altcoin News

Polkadot Flipped XRP To Become 4th-Biggest Cryptocurrency: Report

16/01/2021
polkadot flipped, ripple, xrp, dot, market cap
Altcoin News

Polkadot Launched First Parachain As DOT Surpassed $14

15/01/2021
polkadot flipped, ripple, xrp, dot, market cap
Altcoin News

Staking DOT Is Now Much Easier For Institutions And Here’s Why

15/01/2021
thorchain defi coin, rune, token
Altcoin News

THORChain DeFi Coin Surges 30% Following Sushiswap’s Listing

14/01/2021
new hints, v2 vault cronje, yfi, yearn
Altcoin News

New Hints About v2 Vaults Have Been Dropped By Andre Cronje

14/01/2021
Portugal. The Man Jumps On The Crypto Wagon, Launches PTM Coin
Altcoin News

Portugal. The Man Jumps On The Crypto Wagon, Launches PTM Coin

14/01/2021

Discussion about this post

ADVERTISEMENT

  • Trending
  • Comments
  • Latest

VeChain Price Could Hit $9 In The Near Future: Analysis

09/02/2020
will tron reach

Will Tron Reach $1 In The Long Run: TRX Coin Price Prediction

29/04/2020
digital euro project

Digital Euro Project Favors IOTA Network More Than ETH Or XRP

21/06/2020

Will Cardano Reach $1,000 By 2025: Expert Review

11/05/2018

What Is Altcoin?

0
what is ethereum|What Is Etherum?

What Is Etherum?

0
What Is Cryptocurrency?

What Is Cryptocurrency?

0
thanksgiving weekend, bitcoin, btc, price

What Is Bitcoin?

0
kraken suspends XRP, ripple, blockchain, trading, exchange

Kraken Suspends XRP Trading For US Residents Starting January 29th

16/01/2021
ethereum's creator wants, buterin, dorsey, hoskinson, twitter

Ethereum’s Creator Wants To Help Jack Dorsey In Decentralizing Twitter

16/01/2021
Analyst Expects BTC Price, bitcoin, price, level, support

Analyst Expects BTC Price To Consolidate After 15% Drop

16/01/2021
old fake crypto, giveaway, scam, twitter, users

Old Fake Crypto Giveaway Scam Still Makes $500K Per Week

16/01/2021
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Facebook Twitter Google+ Instagram Youtube
Cryptocurrency News | Bitcoin News | Cryptonews | DC Forecasts.com

DC Forecasts provides a comprehensive source of the latest news about cryptocurrency news daily. Read more on our about us page for details.

News By Topic

Quick Search

No Result
View All Result

DC Forecasts Services

  • About
  • Advertise
  • Submit Press Release
  • Press & Media
  • Events
  • Careers
  • Partners
  • Free Widgets
  • Contact Us

© 2020 DC Forecasts - All Rights Reserved | Terms & Conditions | Privacy Policy | Cookies | Comments Policy | Sitemap | Newsletters | AdChoices

No Result
View All Result
  • News
    • Bitcoin News
      • Bitcoin News
      • Bitcoin Cash News
      • Bitcoin SV News
      • Bitcoin Scams
    • Altcoin News
      • Ethereum News
      • Litecoin News
      • Ripple News
      • Libra News
      • Binance News
      • Cardano News
      • Huobi News
      • Binance Coin News
      • Coinbase News
      • ChainLink News
      • IOTA News
      • Monero News
      • Ethereum Classic News
      • Dash News
      • Stellar News
      • Tether News
      • Tezos News
      • Tron News
      • Vechain News
      • Dogecoin News
      • Cosmos News
      • EOS News
      • NEM News
      • NEO News
      • Nexo News
      • Zcash News
      • UNUS News
      • USD Coin News
      • MECX Token News
      • Coronavirus News
    • Exchange News
    • Analysis
    • Blockchain News
    • Regulation
    • Press Releases
    • DC Forecasts
      • DC Forecasts Announcements
      • About
      • Daily News Video
      • EDUCATION & RESOURCES
      • Blockchain Archive
  • Education
    • Coronavirus Statistics
    • Cryptocurrency Education
      • 0x
      • Augur
      • Aurora
      • Basic Attention Token
      • Binance Coin
      • Bitcoin BTC
      • Bitcoin Cash
      • BITCOIN DIAMOND
      • Bitcoin Gold
      • Bitcoin SV
      • BitTorrent
      • Cardano
      • Chainlink
      • Cosmos
      • Crypto.com Chain
      • DASH
      • Decred
      • Dogecoin
      • Egretia
      • Energi
      • EOS
      • Ethereum
      • Ethereum Classic
      • Holo
      • Huobi Token
      • Litecoin
      • IOTA
      • Ripple
      • Stellar
      • Tether
      • Zcash
  • Markets
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Libra Price
      • Binance Price
      • Bitcoin Cash Price
      • Bitcoin SV Price
      • Cardano Price
      • IOTA Price
      • Crypto.com Chain Price
      • Dash Price
      • Dogecoin Price
      • EOS Price
      • Ethereum Classic Price
      • NEO Price
      • Vechain Price
      • Litecoin Price
      • Huobi Price
      • Maker Price
      • Chainlink Price
      • Monero Price
      • Cosmos Price
      • NEM Price
      • Ontology Price
      • Ripple Price
      • Stellar Price
      • Tether Price
      • Tezos Price
      • Tron Price
      • UNUS SED LEO Price
      • USD Coin Price
      • Zcash Price
    • Cryptocurrency Calculator
      • Bitcoin Calculator
      • Ethereum Calculator
      • Litecoin Calculator
      • Ripple Calculator
      • Dash Calculator
      • Dogecoin Calculator
      • Stellar Calculator
      • Monero Calculator
      • Binance Calculator
      • Cardano Calculator
      • Huobi Calculator
      • Binance Coin Calculator
      • Chainlink Calculator
      • IOTA Calculator
      • Ethereum Classic Calculator
      • Tether Calculator
      • Tezos Calculator
      • Tron Calculator
      • Vechain Calculator
      • Cosmos Calculator
      • EOS Calculator
      • NEM Calculator
      • NEO Calculator
      • Nexo Calculator
      • Zcash Calculator
      • USD Coin Calculator
      • UNUS SED LEO Calculator
    • Reviews
    • Cryptocurrency Exchanges
      • United Kingdom
      • USA
      • Canada
      • South Korea
      • Israel
      • Singapore
      • Australia
      • Mexico
      • South Africa
      • Japan
      • India
  • Directory
    • Bitcoin Businesses
    • Bitcoin Broker
    • Bitcoin Casinos
  • Events
    • Blockchain Events News
  • More
    • Newsletter
      • Press Release
      • Blockchain
      • Cryptocurrency Exchange
      • Bitcoin
      • Bitcoin Scams
      • Bitcoin SV
      • Ethereum
      • Ethereum Classic
      • Litecoin
      • Libra
      • Ripple
      • Coinbase
      • Huobi
      • IOTA
      • Monero
      • MECX Token
      • Cardano
      • NEO
      • NEM
      • ChainLink
      • Tether
      • Stellar
      • Cosmos
      • Tron
      • Dogecoin
      • UNUS
      • Tezos
      • EOS
      • Dash
      • USD Coin
      • Nexo
      • Vechain
      • DC Forecasts
    • Mining Calculator
      • Bitcoin Mining Calculator
    • Widgets
      • RSS
      • Generator
    • Press Release
      • Bitcoin Press Release

© 2020 DC Forecasts - All Rights Reserved | Terms & Conditions | Privacy Policy | Cookies | Comments Policy | Sitemap | Newsletters | AdChoices