Meanwhile, according to data released by DefiLlama, the total value locked (TVL) in protocols across all chains presently amounts at $231 billion. The Inverse hackers carted off with some 1,588 ETH, 94 WBTC, 39 YFI, and 3,999,669 DOLA in total.Īlthough the hacker has cycled the majority of the funds back through Tornado Cash, it is unclear where the funds will end up as around 73.5 ETH (about $250,000) remains in the cybercriminal’s original Ethereum wallet.Īn Inverse official said the protocol is collaborating with Chainlink to develop a new INV oracle. Hackers subsequently exploited the shortcuts. Suggested Reading | 40,000 Years For Crypto Scam: A Turkish Prosecutor Seeks Harshest Jail Time For CEO At Large The Usual Routeįlora Li, the chief of the Huobi cryptocurrency exchange’s Research Institute, explained that the vulnerability stemmed from shortcuts used to ease network constraints as the hacking activity gained popularity. Crypto is a highly hacked area – $14 billion was stolen and scammed away last year from unsuspecting individuals or corporate entities. The Ronin hack, according to sources, involves the theft of five accounts.

Suggested Reading | New Crypto Survey Shows 53% Of Americans Think Cryptocurrencies Will Be The ‘Future Of Finance’īTC total market cap at $924.01 billion on the daily chart | Source: On Wednesday, the Ronin network, a gaming-focused website, was robbed of more than $625 million. This is the third multimillion-dollar hack of a DeFi protocol in the last week, highlighting cybercriminals’ ever-evolving techniques.Īnother lending protocol, Ola Finance, suffered a $3.6 million loss on Friday. The attacker then injected the unknown funds into various trading pairs on the decentralized exchange SushiSwap, boosting the price of INV in the Keep3r price oracle. To carry out the attack, the hacker required $3 million in ETH from Ethereum-based mixer Tornado Cash.

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