Yearn Finance

Yearn Finance Suffers $11.54 Million Loss Due to Smart Contract Vulnerability

April 13, 2023
Attack Types: 
Smart Contract Exploit
Entity Types: 
DeFi ,Yield Aggregator
Target Entities: 
Yearn Finance

Summary # On April 13, 2023, Yearn Finance, a prominent DeFi protocol on the Ethereum blockchain, was exploited due to a misconfiguration in its yUSDT vault’s smart contract. The attacker leveraged this vulnerability to mint an excessive number of yUSDT tokens, which were subsequently exchanged for stablecoins. The exploit led to the loss of approximately $11.54 million. Attackers # The attackers are unidentified, but their wallet addresses and contracts are known: ...