Yearn.Finance’s decentralized finance project was hacked on February 5, resulting in a hacker stealing $ 11 million from the yDAI vault. Today the project team has restored the work of the repository.
As previously reported, the hacker used a multi-stage transaction and instant loans to generate a profit of $ 2.8 million. Today, the Yearn.Finance team announced about starting the repository:
“YDAI has been restored! Yearn opened the Maker vault and released YFI tokens for a full launch. ”
Yearn.Finance representatives stressed that although this time the losses of users were reimbursed by the project, next time this will not happen again and users should insure their funds locked in vaults.
To restore yDAI to work, the developers moved 1,591 YFI from their backup storage. The tokens were used as collateral for the creation of the $ 9.69 million DAI stablecoins.
Recall that on February 8, the developers of the DeFi Curve protocol announced the discovery of a vulnerability affecting the new yVault2 pool, in which Yearn Finance participates. After that, access to the pool was terminated.
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