Its native token crashed when decentralized finance (DeFi) protocol Tender.fi reported an unusual activity on the platform, freezing its borrowings.
Tender.fi made a statement on March 7 from its Twitter account. in sharingannounced that an unusual loan has been taken on the platform and has stopped its borrowing service due to hacking rumors. Its native token TND, along with the sharing done by the protocol, $3.44 from the levels to 50% losing near value $1.76 dropped to levels.
An hour after the first post, the Tender.fi team made a statement again. in contact with the owner of the address stated that they are.
On-chain analytics platform to Lookonchain According to the statement, the attacker, who took advantage of a platform-related error, could only worth 70 dollars Using 1 GMX collateral $1.59 million borrowed money.
TND, which is usually traded on the largest decentralized cryptocurrency exchange Uniswap, recovered from the price it fell at the time of writing, according to Coinecko data. for $2.9 experienced a rise.