- News has been replenished with one more major hacker attack
- This time Grim Finance DeFi protocol suffered
- Attackers managed to steal Fantom tokens in the amount of million
DeFi protocol Grim Finance reported a hacker attack on Sunday. According to the team’s tweet, the criminals were using the first deposit contract, so now all accounts were at risk. The company has suspended accepting deposits and asked users to withdraw assets.
Grim calls itself a “profitable farming optimizer”. They promise to provide additional income from the placement of tokens on various decentralized exchanges. Obviously, now the funds locked on the Grim vaults are at risk.
The protocol is based on the Fantom Opera blockchain. It is a smart contract platform built using the Solidity language. A hacker took advantage of a re-entry attack on the beforeDeposit options. It allows you to forge deposits during the first transaction, thereby violating the protocol.
In a tweet, the company announced that they contacted their partners from Circle (USDC), DAI and AnySwap and provided the attacker’s address. to block any further transfers of funds.
Another confirmation of the DeFi vulnerability
Smart contract auditors from the Rugdoc.io group commented on the situation. They point out that Grim Finance should have been better prepared to defend against such attacks.