DeFi lending protocol Warp Finance has reportedly suffered a flash loan attack resulting in the loss of as much as $8 million in digital assets.
Warp Finance team said on Twitter:
? We are investigating irregular stablecoin loans taken out in the last hour, we recommend that you do not deposit anymore stablecoins until we have clarity on the irregularities
— warp.finance (@warpfinance) December 17, 2020
@Swind11001, a member on Twitter responded to the notice claiming to have lost 40,000 DAI.
Please help me. This is the first time that I use defi. I have invested 40000 Dai in total. This money is all my savings. I can’t live without it. Please, your rescue will save a fresh life pic.twitter.com/ssvOkr8UDK
— 周焰焰 (@Swind11001) December 18, 2020
Source: Etherscan
Warp Finance launched in November that enables users to deposit liquidity provider (LP) tokens from other protocols and receive stablecoin loans in exchange.
The flash loan attack has been the weapon of choice for crypto thieves from DeFi protocols this year with several protocols including bZX, Balancer, Origin Protocol, Akropolis, and Harvest Finance all falling victim.
Read more:
- Origin Dollar Exploited In Flash Loan Attack, Loses $7 Million
- Value DeFi Was Exploited For Approximately $6 Million By Flash Loan Attack