• $13M lost in yearn.finance exploit
    Alt coins

    More than $11M lost in yearn.finance exploit, with YFI token plummeting

    The YFI governance token fell sharply from $34,700 to the low $30,000s, as the protocol’s users wonder whether they will be compensated

    “Banteg”—a core developer on the DeFi protocol whose Twitter bio says they are “ahead of the curve”—confirmed that the vault ended up losing $11 million. He went on to sow confusion by saying that deposits had been disabled while an investigation took place… and later confirmed that this isn’t possible given how the ecosystem is decentralized.

  • Yearn creator new DeFi protocol
    Technology

    Yearn Finance creator announces new DeFi credit protocol

    Andre Cronje’s latest project gives users a 99.5% U.S. dollar-based credit line via its yCredit ERC20 token

    What makes this system much more interesting is that Cronje is highly regarded by the cryptocurrency community. As Modern Consensus reported in late September, his projects are trusted so much that when his wallets deployed a contract that he was secretly testing for a new gaming protocol, Eminence.Finance, $15 millions was deposited by users who wanted to front-run other investors before he asked for investments. And before he worked on security, as it turned out.

  • eFi hacker steals $15 million
    Technology

    DeFi hacker steals $15M, returns $8M

    Millions were stolen after crypto users sent a fortune to an unfinished smart contract on Eminence.Finance that was being tested by its developer

    Andre Cronje—the creator of major DeFi protocol Yearn.Finance and the exploited protocol Eminence.Finance—informed the public of the hack on Sept. 29. He explained that the protocol was very much a work in progress and he did not expect it to suddenly attract such a great amount of user funds.