RATE Group | Hackers Targeted Two Cryptocurrency Platforms, Stole $25M Worth Crypto
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Hackers Targeted Two Cryptocurrency Platforms, Stole $25M Worth Crypto

24 Apr Hackers Targeted Two Cryptocurrency Platforms, Stole $25M Worth Crypto

Posted at 10:59h in Cryptocurrency News by

Hackers targeted two cryptocurrency platforms, Uniswap crypto exchange and Lendf.me lending platform. As reported, the hackers managed to steal cryptocurrency worth $25 million from both platforms.

Two Cryptocurrency Platforms Targeted

Reportedly, hackers have recently targeted two cryptocurrency platforms, Uniswap and Lendf.me, to steal crypto assets worth $25 million. Uniswap is a cryptocurrency exchange, whereas, Lendf.me is a cryptocurrency lending platform.

Briefly, the attackers exploited a reentrancy vulnerability to target both services. Both Uniswap and Lendf.me had a few things in common, which might have triggered similar attacks. These include the involvement of Lendf.me protocol (powered by dForce decentralized finance (DeFi) protocol), imBTC token (powered by imToken), and ERC-777 – an underlying technology of Ethereum blockchain facilitating smart contracts. The same technology empowers imBTC and DeFi protocol to run as smart contracts.

According to an analysis…

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