The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Hackers Want to Negotiate After Stealing $25,000,000 in Ethereum and Bitcoin-Pegged Assets From DeFi Protocol

by Daily Hodl Staff
April 20, 2020
in Scams, Schemes and Hacks

Hackers have successfully stolen $25,000,000 from two separate pools on the decentralized lending platform dForce, draining Ethereum (ETH) and Bitcoin-pegged assets over the weekend.

Mindao Yang, founder and chief executive of the dForce Foundation, confirms the hack of users’ funds in a new blog post. Yang says that the crypto hackers have expressed a desire to negotiate.

[the_ad id="93550"]

“The hacker(s) have attempted to contact us and we intend to enter into discussions with them.”

According to a report by Slow Mist, several cryptocurencies, including multiple stablecoins, were stolen.

WETH: 55159.02134
WBTC: 9.01152
CHAI: 77930.93433
HBTC: 320.27714
HUSD: 432162.90569
BUSD: 480787.88767
PAX: 587014.60367
TUSD: 459794.38763
USDC: 698916.40348
USDT: 7180525.08156
USDx: 510868.16067
imBTC: 291.3471

Operations of dForce Foundation’s protocols Lendf.Me and USDx are temporarily shut down and the website is offline. Lendf.Me is a decentralized money-matching protocol that uses smart contracts for easy borrowing. Borrowers and lenders on Lendf.Me can deposit and withdraw USDx at any time, subject to liquidity, and users can lend USDx to earn yields.

The DeFi analytics and rankings platform DeFi Pulse shows that assets locked in the dForce network plummeted by nearly 100% after the attack, wiping out the holdings.

According to an analysis of the exploit by the team at Tokenlon, a decentralized exchange, the hackers were able to exploit a vulnerability in a smart contract that links ERC777 tokens and Uniswap/Lendf.Me contracts.

SlowMist reports that after stealing the cryptocurency, the attackers converted it to ETH and other tokens on decentralized exchanges.

Says Yang,

“We are doing everything in our power to contain the situation. We have contacted law enforcement in several jurisdictions, reached out to asset issuers and exchanges to track down and blacklist the hacker(s)’s addresses, and engaged our legal teams.”

DForce is one of China’s largest decentralized finance platforms for lending fiat-backed stablecoins. Last week, the platform raised $1.5 million in funding from Multicoin Capital, Huobi Capital and CMB International.

The weekend hack follows another DeFi exploit that happened earlier in April when Bisq, a decentralized exchange that enables users to trade anonymously, revealed that hackers had uncovered a critical security vulnerability that allowed them to steal $250,000 in Bitcoin and Monero from the platform.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sergey Nivens

Submit a Press Release

Industry Announcements

  • Bitcoin.com’s VERSE Token Now Available for Trading on Kucoin
    May 29, 2023
  • Huobi Set To Launch Trading Service in Hong Kong
    May 26, 2023
  • Stably Launches #USD As the First BRC20 Stablecoin on the Bitcoin Network
    May 25, 2023
  • The Open Network (TON) Unveils DeFi and Data Analytics Hackathon in Collaboration With DWF Labs and Amazon Web Services
    May 25, 2023
  • Ankr Partners With Mirage To Revolutionize the Web 3.0 Gaming Landscape
    May 25, 2023
  • Tulipart.com Launches a Collection of Tulip NFTs Minted Daily Over Seven Years
    May 24, 2023
  • Binance Futures Grand Tournament Returns
    May 24, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,744.43
$27,744.43
1.55%
Ethereum
$1,896.76
$1,896.76
1.06%
Cardano
$0.380249
$0.380249
1.29%
XRP
$0.491681
$0.491681
1.82%
Dogecoin
$0.073248
$0.073248
0.82%

Spotlight

  • US Dollar Dumping Has Started in Both Words and Actions As BRICS Nations Join Forces, Says Russia’s Top Diplomat
    May 26, 2023
  • Under-the-Radar Altcoin Escapes Crypto Doldrums and Surges by 44% This Week Amid Successful AI Testing
    May 27, 2023
  • Bitcoin Could Erupt 150% This Year and Shatter All-Time High, According to Analyst – Here’s Why
    May 27, 2023
  • One Catalyst Could Trigger Altcoins To Plunge by Up to 50%, Predicts Popular Crypto Analyst
    May 27, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl