Today in DeFi - Value Hacked, Uniswap Down, And More

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Value Hacked

Emiliano Bonassi | emiliano.eth @emilianobonassi

This is the complex exploit I've ever seen. It used 2 FLASHLOANS, one with @AaveAave (80k ETH) and one using flashswap with @UniswapProtocol (116M DAI). In the image the steps!

Value DeFi was hacked yesterday for $7M, with $2M of that returned, in a pattern reminiscent of several flash loan attacks. Similar to the recent Harest attack, this one seemed once again an oracle manipulation issue, where the price on Curve was manipulated, leading to a mispricing on the project (value defi) relying on it.

goodgirlgonecrypto.eth @gggonecrypto

Nothing to see here just a casual $300m trading volume for @CurveFinance and a shitload of fees go to $veCRV holders $CRV

Funnily enough, Curve liquidity providers and veCRV holders benefited, as the large volumes pushed through Curve led to substational fees.

Hayden Adams 🦄 @haydenzadams

I can translate: A project used @CurveFinance spot price as an oracle. Moving the price on Curve takes a lot of capital so the attacker used flash loans and flash swaps. Uniswap TWAPs are still safe from this ;)

Emiliano Bonassi | emiliano.eth @emilianobonassi

This is the complex exploit I've ever seen. It used 2 FLASHLOANS, one with @AaveAave (80k ETH) and one using flashswap with @UniswapProtocol (116M DAI). In the image the steps! https://t.co/nTm2SEgsur

Is there a solution to this kind of issue? Hayden Adams of Uniswap points out that the TWAP price oracles of Uniswap v2 don’t suffer from this.

Uniswap Down

Uniswap Protocol 🦄 @UniswapProtocol

The app.uniswap.org site is temporarily down due to issues w/ the @Cloudflare IPFS gateway. Now is a good time to remember the benefits of decentralization! 1) it's available on other IPFS gateways github.com/Uniswap/uniswa… 2) it can be run locally

github.comUniswap/uniswap-interface🦄 An open source interface for the Uniswap protocol - Uniswap/uniswap-interface

Uniswap’s Cloudflare IPFS gateway went down yesterday, leading to downtime for its frontend. While that specific gateway was down, the actual Uniswap contracts are always up on Etheruem, and users could still access them from other gateways, http://uniswap.eth.link/, or rehosted elsewhere, including your local machine.

Compound yVault

yearn.finance @iearnfinance

We are pleased to announce the that the Curve.fi Compound LP yVault is now live. You can access all of our active yVaults in the link below. yearn.finance/vaults

A new vault for Compound has appeared on yearn finance. This farms the Compound pool on Curve Finance.

Follow @todayindefi to keep up with the latest DeFi news on Twitter.

Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned