Blockchain technology has created many new markets. One of them is "Decentralized Finance (DeFi)". This means decentralized finance and is intended to be an alternative to the global financial system. These do not require censorship and only require an internet connection to use them. It is a matter of course for Central Europeans to have access to a bank account. This is not the case in many other countries. However, the fact that this financial system also has disadvantages was demonstrated for the second time in a short time yesterday.
Second exploit within a few days
Not even a week ago there was an exploit for the DeFi protocol bZx, in which 3.300 ETHt were. Hackers were able to gain access to Ethereum worth over a vulnerability 800.000 US Dollars procure. But the team doesn't seem to have learned anything from this exploit. After yesterday morning the Follow-up report When the first attack appeared, an incident occurred again. Because just a few days after the first attack it is reported again that it has become a Feat has come.
This time were a little over 2.300 ETH worth almost $ 650.000 captured by the thieves. The bZx co-founder Kyle Kistern explains in the official Telegram Channel that the attack is a Oracle manipulation concerns.
The follow-up report to the first exploit states that all funds are safe and no one will lose money. And even with yesterday's attack again, no user should lose money. The protocol was paused in the meantime. The team explained in a tweet that they wanted to meet with the ChainLink (LINK) team to apply ChainLinks Oracle to their own model:
UPDATE: We are meeting with Chainlink today and expediting the addition of the oracle to our model. After this is added, we will go online with extremely limited functionality: lending, unlending, and closing positions / loans. New positions and new loans will not be available.
- bZx (@bzxHQ) February 18
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