Cryptocurrency market today is the leading cryptocurrency Bitcoin (BTC) had a relatively green day with the rise.
Although Bitcoin’s rise above $ 48,000 pulled the whole market up, the situation for a specific cryptocurrency was unfortunately not as expected.
Visor Finance, Hacked
The last participant in the ongoing “hacking race” between DeFi projects Visor Finance it happened.
Ethereum network based DeFi protocol, He suffered millions of dollars in losses after the attack.
In the statement made by the Visor Finance team, it was stated that the loss was over $ 8 million.
The attacker reportedly exploited a software bug that allowed him to continually withdraw funds from a liquidity pool. The team announced a token exchange after the VISR price crashed 95%.
We are aware of an exploit of the vVISR staking contract and are implimenting a migration plan for affected VISR. No positions or hypervisor’s are at risk.
— Visor Finance (@VisorFinance) December 21, 2021
Although the Visor Finance team announced this as of 18:00 today, popular Twitter accounts such as Rekt announced the situation hours ago.
The Visor Finance team also emphasized that they are aware of this vulnerability and stated that they will implement a token exchange program to compensate the losses of the investors instead of the VISR token.
Stating that no users of Visor Finance are at risk at the moment, the team doesn’t seem to have done a good job in calming the community.
It is no surprise that Visor Finance, whose smart contracts are audited by the security firm Certik, was hacked.
CertikMany other audited by DeFi project was also recently hacked, and the audit firm’s credibility was questioned.