Another exploit, another 300k gone, ShadowFi Massive Cryptocurrency Loss

Hackers made an attack on DeFi systems possible by a crypto-private effort known as ShadowFi. A prominent blockchain security firm, Peckshield, sounded the alarm and revealed the exploitation cost around $300,000.

How did it happen?

According to ShadowFi, an attacker drained its liquidity pool contract, leaving it with zero funds. Peckshield claims that the protocol was exploited due to flaws in the SDF token. Due to this vulnerability, anyone might burn the token without authorization. Peckshield added that the amount of money the hacker took was around $300 thousand, or 1,078 $BNB. The hacker was named NeorderDAO by the blockchain security company. A spokesperson for the company said the hacker’s name was found in the company’s internal database.

Full Article: https://cryptonews.com/news/shadowfi-exploit-allows-300k-liquidity-drain-massive-cryptocurrency-loss.htm