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DeFi protocol Grim Finance lost $30M in 5x reentrancy hack
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The decentralized finance (DeFi) protocol Grim Finance reported $30 million in losses due to a reentrancy exploit of the platform’s deposits.
Grim Finance officially announced on Dec. 18 that an “external attacker” had exploited the DeFi platform, stealing “over $30 million” worth of cryptocurrencies.
According to Grim Finance, the hack was an “advanced attack,” with the attacker exploiting the protocol’s vault contract through five reentrancy loops, which allowed them to fake five additional deposits into a vault while the platform is processing the first deposit.
Grim paused all vaults after the attack to minimize the risk for future funds: “We have paused all of the vaults to prevent any future funds from being placed at risk, please
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