Arbitrum-primarily based lending platform Tender.fi breached $one.59 million

Hackers attacked Tender.fi, an Arbitrum-primarily based lending platform, “failing” to return the revenue.

Arbitrum-primarily based lending platform Tender.fi breached $one.59 million

On the afternoon of March seven, a white hat hacker infiltrated and took $one.59 million from Tender.fi. For investigation functions, Tender.fi stopped all lending.

According to a trail by Loononchin, taking benefit of an oracle vulnerability, the hacker borrowed $one.59 million with just a single GMX token (really worth $70) as collateral.

However, the attacker later on agreed to return the “loot”, immediately after the two sides negotiated and agreed on the matter. At the exact same time, Tender.fi will return 62 ETH ($96,500) as a reward for the hacker.

The selling price of Tender.fi’s TND token fell about 35% prior to returning to its present selling price of $two.56.

TND selling price motion above the previous day, screenshot by CoinMarketCap at 08:ten on 03/08/2023

Despite gaining a good deal of momentum recently, the DeFi ecosystem on Arbitrum has continually encountered safety difficulties. Adjacent to Tender.fi is Hope Finance drained $two million AND ArbiSwap “rug pull” DEX end users..

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