Editors News- Temple DAO, a DeFi protocol, was hack and lost more than $2.3 million.
- Mango Market, a platform based on Solana, lost $100M as a result of a hack.
Crypto hacking has been the most tragic thing to happen in the crypto market. The prominent Binance exchange also hacked on October 7. And the crypto market claimed this morning that four attacks in one day are a new record in the crypto sector.
Four DeFi Hacks Instantly
Rabby Swap, a feature of the Rabby crypto wallet, was hack yesterday, one month after its inception. And the hackers targeted the Rabby Swap Smart Contract, resulting in a loss of roughly $2.34M, and the company has indicated that they are working on a solution and that it would be available in one week.
Supremacy Inc, a Blockchain security firm, reported that Paraswap was identify to have a vulnerable deployer address as a result of the Profanity exploitation, whereas Paraswap responded that they were examining it.
DeFi protocol Temple DAO’s stax.if lost more than $2.3M, approximately 1,831 ETH. In the StaxLPStaking contract, the hacker took advantage of a “missing onlyMigratory check” mechanism. In the meanwhile, TempleDAO has deactivated the dApp to prevent unauthorized use. The team appealed with the hacker to return the assets and reimbursed him impartially for the vulnerability.
Mango Market, a Solana-base platform that trades digital assets on the Solana blockchain, was hacked and lost $100 million in the attack, and they announced Tuesday evening that a hacker was able to empty funds from Mango using Oracle price manipulation. In exchange for restoring the stolen assets, the firm has offered the attacker the chance to claim a bug reward.
The crypto community has recently hit hard by hacks, and the number of companies dealing with these catastrophic occurrences on a daily basis has grown.
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Source: https://thenewscrypto.com/defi-firms-sets-a-brand-new-record-with-four-hacks-in-a-day/