The developers of the Harvest Finance DeFi protocol have taken responsibility for an ‘engineering error’ that allowed the hacker to carry out the recent attack and steal $19.8 million.
🤠 Tracing the path of the attacker (big thanks to @trmlabs and @Bitquery_io)
📖 Post-mortem summary
🔒 Risk mitigation strategy
🫂 Community and emissions updates
👇 ..and more! Check out our Week 9 updateshttps://t.co/dscsrhz3SG
— Harvest Finance (@harvest_finance) October 28, 2020
As possible measures to prevent incidents, Harvest Finance representatives named a ban on deposits and withdrawals in a single transaction. In their view, such a solution would render the use of instant swaps pointless.
“We will continue to invest in security and are already expecting additional audits from several companies,” the statement said.
Representatives of the project said they are working on a plan to recover funds for affected users and update the protocols.
Earlier, the DeFi project offered a reward to anyone who helps recover users’ assets. The developers urged not to disclose the attacker’s details.
The hacker used $24 million in stablecoins from Harvest Finance’s DeFi pools to withdraw $19.8 million in renBTC. He later returned $2.47 million.
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