Decentralized exchange DFX Finance has lost about $7.5 million in crypto as a result of a hacker attack.
According to analysts from security firm PeckShield, the hack was made possible due to “the lack of proper protection against re-entry.”
The DeFi protocol team has confirmed the incident and said:
“We were notified of suspicious activity 20-30 minutes after the first transaction, and we suspended all DFX smart contracts within minutes of confirming the attack.”
According to BlockSec experts, another security company, the attacker used flash loans to empty liquidity pools, then converted the stolen tokens into ETH and withdrew about $4.3 million in digital assets.
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