$11 Million Drained Out of Yearn Finance in a Flash Loan Exploit

Yearn.Finance, one of the popular decentralized finance (DeFi) platforms, has suffered a massive attack on one of its DAI lending pools on late Thursday that resulted in the total loss of $11 million, the protocol confirmed on social media.

A Popular DeFi Platform

Yearn.Finance is one of the major DeFi protocols with a total locked-in value of little less than $500 million, according to DeFi Pulse. The platform got popular last year among yield farmers as it always enables depositors to recoup all their yield in the token they initially deposited.

Furthermore, YFI token, the governance token of the platform, suffered after the attack and has dropped 15 percent after the news of the attack become public.

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