Home Loans Value DeFi protocol suffers $6 million flash loan exploit

Value DeFi protocol suffers $6 million flash loan exploit

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Following a Twitter thread on Friday that highlighted the decentralized finance protocol’s flash loan exploit prevention methodology, Value DeFi appears to have been the victim of a $6 million flash loan exploit.

At roughly 10:45 AM EST, a user took out a flashloan of 80,000 ETH (over $36 million) from lending protocol Aave. Aave developer Emilio Frangella immediately called attention to the loan.

According to Emiliano Bonassi, a self-described whitehat hacker and the co-founder of DeFi Italy, the attacker also sourced an additional $116 million flash loan in DAI from Uniswap.

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Linda Barbara

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