The Yearn Finance ($YFI) protocol has been hacked with a loss of $3M.
Yearn Finance’s yETH product was exploited, allowing the attacker to mint an unlimited amount of yETH and drain the entire liquidity pool in a single transaction.
After obtaining around ~1,000 ETH (≈ $3M), the hacker sent all of the funds to the mixing protocol Tornado Cash.
The exact scale of the damages is still unknown, although prior to the incident, the yETH pool held roughly ~$11M in value.
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