The DeFi project Yearn.Finance (YFI) recovered the yDAI repository that was exploited last week. Then it was reported about the loss of $ 11 million, and the attacker’s production was $ 2.8 million.
yDAI vault restored!
Yearn has opened a Maker Vault with YFI from the Treasury to mint 9.7m DAI and make the yDAI vault whole.
It was done as a one-off celebration of going through this DeFi rite of passage. Don’t count on it happening again. Make sure to buy Cover next time. pic.twitter.com/6xNh3XEVYZ
— yearn.finance (@iearnfinance) February 9, 2021
“The yDAI repository has been restored! – the developers wrote on Tuesday. “Yearn opened the Maker vault, leveraging YFI from reserves to issue 9.7 million DAI and fill the yDAI gap.”
In support of their words, they cited the details of the transaction, during which 1,591,529 YFI was used as collateral for the issue of DAI stablecoin tokens for $ 9.69 million.
The developers also noted that this was done “as a one-off celebration in honor of the passage of this DeFi rite”, bearing in mind the widespread prevalence of exploits of this type in the decentralized finance space. Recall that during the attack on Yearn.Finance, its organizer used various crypto lending services, as has happened more than once with DeFi. Also, the creators of Yearn.Finance urged users to insure deposits using the Cover protocol in the future.
Following the events of last week, YFI fell from $ 35,000 to $ 29,600 and recovered to $ 34,000 by the time of publication. The volume of assets recorded in Yearn.Finance has also not undergone significant changes and is still slightly below $ 500 million.
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