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Uniswap developer AzFlin has admitted to creating the FRENS token but has argued what he did doesn't constitute a rug pull. Uniswap dev loses job, was it worth it? A Uniswap developer known as “AzFlin” has been sacked by the founder of Uniswap Labs, Hayden Adams, for alleged ly creating a memecoin and rug pulling it a few hours later for 14 wrapped-Ether (wETH), worth $25,800. It is understood that AzFlin developed and deployed FrensTech token (FRENS) on Coinbase’s new layer 2 blockchain Base on Aug 12 before selling the tokens raised from the liquidity shortly after. Adams publicly confirmed the sacking of AzFlin, adding that such behaviour is neither supported nor condoned at Uniswap Labs. Wanted to let people know this person is no longer with the company. Not behavior we support or condone. https://t.co/sxVowwIR3Q — hayden.eth (@haydenzadams) August 12, 2023 The developer has mocked the situation at hand with a series of light-hearted posts along with a new X (formerly Tw...

A number of pools using Vyper have been exploited due to a malfunctioning reentrancy lock that potentially exposes all pools with wrapped Ether (WETH). Decentralized finance (DeFi) protocols are undergoing a stress test following a critical vulnerability was found on versions of Vyper programming language, resulting in the theft of millions of dollars' worth of cryptocurrencies on July 30. A number of pools using Vyper 0.2.15, 0.2.16 and 0.3.0 have been exploited due to a malfunctioning reentrancy lock, targeting at least four liquidity pools on Curve Finance protocol. "The short answer is that everything that could be drained was drained. The targeted pools are aETH/ETH, msETH/ETH, pETH/ETH and CRV/ETH. All remaining pools are safe and unaffected by the bug," Curve Finance said on Discord. BlockSec, an auditing firm for smart contracts, noted that the reentrancy could potentially place all pools with wrapped Ether (WETH) at risk of attack. Please note that this reentr...

In a post-mortem report, Arcadia Finance developers said an attacker stole funds by liquidating a vault before it could perform a health check, interrupting the app’s normal flow of operations. The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “reenter” a contract or interrupt it during a multi-step process, preventing the process from being completed correctly. The team has sent a message to the attacker demanding the return of funds within 24 hours and threatening police action if the hacker fails to comply. Post Mortem of ongoing situation, providing a technical overview and sharing more information on next steps.https://t.co/NPNbbSzKBQ — Arcadia Finance (@ArcadiaFi) July 10, 2023 Arcadia Finance was exploit ed on the morning of July 10 and drained of $455,000 worth of...

April was a month of hacks, exploits and rug pulls, resulting in over $100 million in net losses across DeFi platforms. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. April saw several hacks, exploits and rug pulls that resulted in a net loss of over $100 million among several DeFi protocols. Amid the growing memecoin frenzy, the chances of exploits have increased multifold, with WallStreetBets — a popular trading sub-Reddit group — allegedly rugging its users for $635,000 just days after airdropping about $15,000. DeFi protocol Level Finance was a victim of an exploit resulting in the loss of nearly $1 million. The attacker manipulated a “claim multiple” bug in a Level Finance smart contract to steal more than 214,000 native Level Finance (LVL) tokens from the exchange. The volume of liquid staking protocols has dramatically risen in the past co...

Allbridge offered a hacker who pilfered $573,000 from its platform a chance to come forward as a white hat and forgo any legal ramifications. The attacker behind a $573,000 exploit on the multi-chain token bridge, Allbridge, has been offered a chance by the firm to come forward as a white hat and claim a bounty. Blockchain security firm Peckshield first identified the attack on April 1, warning Allbridge in a tweet that its BNB Chain pools swap price was being manipulated by an individual acting as a liquidity provider and swapper, which allowed them to drain the pool of $282,889 in Binance USD (BUSD) and $290,868 worth of Tether (USDT). In an April 1 tweet following the hack, Allbridge offered an olive branch to the attacker in the form of an undisclosed bounty and the chance to escape any legal ramifications. To hacker's attention: addressing the incident and the next steps 1. We continue monitoring the wallets, transactions, and linked CEX accounts of individuals involved in t...

ETH worth over $101 million had been returned to the lending protocol as of March 25. The exploiter still controls part of the stolen assets. The hacker behind the $196 million exploit on lending protocol Euler Finance has returned the majority of the stolen assets, according to on-chain data.  In a transaction on March 25, the exploit er return ed 51,000 Ether (ETH) worth around $88 million at the time of writing. A second transfer of 7,737 ETH was made on the same day, worth over $13 million. Previously, on March 18, the hacker sent 3,000 ETH to the protocol, worth nearly $5.4 million at the time. The exploit er still controls some of the stole n assets. the euler exploiter has returned 51k ETH ($90m) https://t.co/RooIjugGsd — ekin (@eking0x) March 25, 2023 On March 13, the hacker carried out multiple transactions stealing nearly $196 million from the protocol in a flash loan attack, dubbed the largest DeFi hack of 2023 so far. Stolen assets include 8.8 million DAI, 849,000 ...

The majority of the funds stolen were from a single wallet which had $751,321.80 USDC drained from the malicious link. Azuki, a popular nonfungible token (NFT) project, had its Twitter account compromised on Jan. 27 leading to hackers stealing over $750,000 worth of USD Coin (USDC) by posting a malicious “wallet drainer link” posed as a virtual land mint. Hackers stole $751,321.80 USDC from a single wallet within half an hour of the malicious links being tweeted, according to Etherscan data provided to Cointelegraph by crypto wallet security firm Wallet Guard. The data also revealed that Hackers stole a further $6,752.62 worth of USDC from various wallets holding 11 NFTs and over 3.9 Ether (ETH). Wallet Guard stated that the total amount stolen was $758,074.42. Emily Rose, community manager for the anime-inspired NFT project confirmed via Twitter on Jan. 27 that the Azuki account was hacked, warning users not to click any links from Azuki’s Twitter account . AZUKI OFFICIAL TWITTER AC...