Bent Finance (BENT) become the sixth crypto establishment to get hacked in December, price dropped 80%

Staking and farming platform Bent Finance is the 6th project hacked by hackers in December. At the time of writing, the BENT price is changing hands at $4.12, dropped 80% in the last 24 hours.


BENT/USD 1-day chart | Source: CoinMarketCap

Bent Finance (BENT) confirms pool exploit, advises investors to withdraw funds

After confirming the attack was to ask investors to withdraw their funds and disable the reward claims on the compromised platform. Bent Finance proactively advised investors to withdraw funds and plans to reimburse losses one way or another.

According to crypto fraud investigator and former member of the US Secret Service Joe McGill of TRM Labs, the attackers managed to steal approximately 440 Ethereum (ETH), worth more than $1.6 million at the time of writing.


Source: PeckShiled/Bent Finance

Not long ago, the community suspected Bent Finance of the possibility of a rug-pull event when PeckShield spoke out to have identified the source of the hack transactions.

After that, Bent Finance as the team appointed two independent white hat developers to get a better understanding of the unfolding situation, “Yes, we see the same and are working through it right now.” At the moment, the protocol continues to advise its pool investors to withdraw until mining is resolved with every update. The project has confirmed that it will recover all the stolen funds.

The attack is highly likely to have taken place since December 12, contradicting Bent Finance’s findings of suspecting the presence of an attacker on the network since December 1. Bent Finance is the sixth project hacked in December, including Grim Finance, BitMart and AscendEX, losing a total of over $600 million as a direct result of a successful hack. However, further investigations are underway to determine the damage from Bent Finance mining.

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