In the hack of the uniswap platform the attacker exploited the issue to steal funds from the uniswap liquidity pool of eth imbtc containing about 1278 eth. Its safe because its limited.
Technically the main logic behind these two incidents is the incompatibility between erc777 and those defi smart contracts which might be misused by the attacker to.
Uniswap hack. In the case of the lendfme hack the attacker exploited the same issue to increase the internal record of the attackers imbtc collateral amount so that she can borrow and indeed. The wleo contract was hacked late yesterday resulting in 42000 worth of stolen funds. Started at 125819 am utc apr 18 2020 the defi platform uniswap was attacked by a hacker using a reentry vulnerability.
Around 24 hours later at apr 19 2020 125843 am utc a similar hack occurred on lendfme. Technically the main logic behind these two incidents is the incompatibility between erc777 and those defi smart contracts which might be misused by the attacker to utterly. The hacker stole ethereum eth from decentralized exchange uniswaps pool by minting wleo to himself and swapping it for ethereum.
110 the imbtcuniswap hack took advantage of the erc777 standard now im seeing many people saying that erc777 is inherently bad or unsafe. The cryptocurrency exchange kucoin was hacked on september 25 2020 and early. About 25 million in cryptocurrency was stolen from uniswap and lendfme over the weekend by hackers who exploited a technology underlying the ethereum blockchainof the two lendfme a decentr.
David mihal atdmihal april 18 2020. Uniswap has created a shockwave in the cryptocurrency community by suddenly releasing its governance token uniuniswap is a decentralized protocol built on ethereum that allows users to swap between different tokens in a completely decentralized fashion. If youve used uniswap before september 1 2020 you can get 400 uni tokens for free.
Uniswap is one of the biggest defi projects out there. Erc20 is safer than erc777 in the same way that bitcoin is safer than ethereum. Since the recent kucoin hack the crypto community has been waiting for the hacker to move funds.
Around 24 hours later at apr 192020 125843 am utc a similar hack occurred on lendfme. Started at 125819 am utc apr 182020 the defi platform uniswap was attacked by a hacker using a reentry vulnerability. From what i keep hearing this has happened to many other pools on uniswap.
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