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Harvest Finance Publishes Post Mortem Report Following $34 Million Flash Loan Hack
Summary: Harvest Finance apologized for a recent $34 million flash loan attack the platform attributed to an "engineering error" in a recent blog post following the incident. The post described how the hacker stole USDC and USDT reserves from the vaults into which Harvest's investors had locked. The post also updated the amount stolen from $24 ...
Harvest Finance apologized for a recent $34 million flash loan attack the platform attributed to an "engineering error" in a recent blog post following the incident.
The post described how the hacker stole USDC and USDT reserves from the vaults into which Harvest's investors had locked. The post also updated the amount stolen from $24 million to $34 million. The attacker issued themselves a flash loan which allowed them to manipulate Harvest Finance's price on Curve Finance to collect a profit.
Harvest's token, FARM, fell in value from $242 on Sunday to $100 on Tuesday, according to data from CoinMarketCap. In today's blog post Harvest outlined possible solutions, including getting rid of flash loans. The post also asked the hacker nicely to return the funds to the community.
By Emily Mason
Tags: DeFi,DeFi Protocol,Flash Loan Attack,Harvest Finance
Link: Harvest Finance Publishes Post Mortem Report Following $34 Million Flash Loan Hack [Copy]
