DeFi Insurance platform double exercise hack
Opyn which should "Protect" Defi as insurance platform get hacked!
No one listens and no one is willed to accept DeFi is not the hot term for the majority of people who suffer under the economic crises we are in. It's a moneymaker game of people who want to become rich by dubious business models copying the old failed world into a digital one with lending, debt, escrow, custody, and call it decentralized. Now another one is paying the bill for these stupid lies. Opyn is not only a platform. It's an insurance for DeFi platforms. They got hacked and this is the real fun.
Opyn, a decentralized insurance platform for DeFi users has been exploited to the tune of $370k in stablecoins due to a vulnerability in one of its smart contracts.
A few hours ago, the Opyn DeFi platform discovered a vulnerability in one of its ETH Put contracts, which enabled an attacker to make off with $371,000 worth of crypto assets. The Ethereum based decentralized insurance platform allows users to protect themselves from risks they may face in decentralized finance markets. It operates with an options protocol that allows DeFi users to create put and call options.
As I said many times before - Ethereum and Solidity is a danger to all these systems. No one listens. Still, there are enough solidity smart contracts for the next big hacks. Read full article here