Money Legos can be dangerous, especially when you focus on semantics.
We were graced with one more typical “degen yield farm” popping in and out of relevance this week.
Harvest Finance collected as much as $1 billion in total value locked before an “economic exploit” sent it tumbling down.
Jesse Powell, chief executive officer of the world’s fourth-largest crypto exchange Kraken, has criticized decentralized finance (defi) projects, accusing them of being “scams” that enter the market too quickly, unprepared.
Another decentralized finance (DeFi) project, Harvest Finance, has suffered a flashloan attack that lasted for seven minutes, with reportedly at least USD 24m exploited.
Harvest Finance is actively tackling the apparent $24 million attack.
Harvest Finance, a major decentralized finance protocol, has seemingly issued a $100,000 bounty in the aftermath of a $24 millon attack targeting its liquidity pools.
In an Oct.
A few hours ago, reports from users on Harvest Finance’s Discord channel claimed that they had lost 10-15% trying to unstake fusdc, with many in the community soon voicing their concerns about a pot
The post $FARM down by 70% as Harvest Finance faces 'economic attack' appeared first on AMBCrypto.
The latest DeFi incursion is currently unfolding as Harvest Finance hunkers down to protect its farmers by withdrawing funds from its liquidity pools.
The post Breaking: DeFi Protocol Harvest Finance Attack Targeting Liquidity Pools appeared first on CryptoPotato.
A lot of trust is required to put money in Harvest Finance.
Harvest Finance, a decentralized finance project that succeeded in attracting over $1 billion in funds locked has an admin key that gives its holders the ability to mint tokens at will and steal users’ funds.
As noted by auditing companies PeckShield and Haechi, the governance parameters are not set by a contract with clearly defined rules.