RATE Group | Hackers steal $25 million worth of cryptocurrency from Uniswap and Lendf.me
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Hackers steal $25 million worth of cryptocurrency from Uniswap and Lendf.me

19 Apr Hackers steal $25 million worth of cryptocurrency from Uniswap and Lendf.me

Posted at 19:22h in Cryptocurrency News by

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Hackers have stolen more than $25 million in cryptocurrency from the Uniswap exchange and the Lendf.me lending platform.

The attacks took place over the weekend, on Saturday and Sunday, respectively. Although an investigation is currently underway, the two attacks are believed to be related, and most likely carried out by the same group or individual.

According to investigators, hackers appear to have chained together bugs and legitimate features from different blockchain technologies to orchestrate a sophisticated “reentrancy attack.”

Reentrancy attacks allow hackers to withdraw funds repeatedly, in a loop, before the original transaction is approved or declined.

The similarities between Uniswap and Lendf.me is that both platforms were using:

  • Lendf.me protocol — a decentralized finance (DeFi) protocol developed by the dForce Foundation to support lending operations on the…

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