• News
  • Altcoins
  • Blockchain
  • Bitcoin
  • Ethereum
  • Markets
What's Hot

Bitcoin’s Next Step: Integration with New Social Systems Technology to Achieve Monetary Status

January 13, 2023

Sensory Immersion Takes Over: Touch and Smell Set to Revolutionize the Metaverse at CES 2023

January 13, 2023

Kraken Announces FLR Token Distribution via Email: Details Inside

January 13, 2023
Facebook Twitter Instagram
Bit News Today
  • News
  • Altcoins
  • Blockchain
  • Bitcoin
  • Ethereum
  • Markets
Bit News Today
Home»News»Hacker Swipes $6.9 Million in Cryptocurrency from Defi Protocol Lodestar Finance on Arbitrum Blockchain
News

Hacker Swipes $6.9 Million in Cryptocurrency from Defi Protocol Lodestar Finance on Arbitrum Blockchain

Saheel KhirodkarBy Saheel KhirodkarDecember 23, 2022Updated:December 23, 20221 Comment2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
Cryptocurrency Hacking: Hackers steal $180 million in crypto from Beanstalk  Farms - The Economic Times
On Dec. 10, 2022, Lodestar Financing, an arbitrum-based financing platform, was used, according to a tweet from the job’s Twitter account on Saturday. According to information from the neighbourhood, Lodestar suffered a $6.9 million loss as a result of the vulnerability.

According to various reports, Lodestar Financing, another decentralised financing (defi) platform, was compromised for $6.9 million in one use. According to Lodestar’s main Twitter account, “[The] procedure was used and deposits have actually been drained pipes.” “While we consider treatment options, supply and obtain balances will remain unchanged because we have set all interest rates to zero.”

According to Lodestar, the hacker “controlled the plvGLP currency exchange rate” before “providing Lodestar with plvGLP security and obtaining all readily available liquidity.” This gave the exploiter permission to waste “what they could.” However, the group recalled on Saturday that a “collateralization ratio system prevented them from completely squandering the plvGLP.”

Staff from Lodestar stated on the group’s Discord channel that they had temporarily halted lending and liquidation activity. According to data from defillama.com, the total value locked (TVL) in Lodestar was reduced from nearly $7 million to a straightforward $11.06. The value of the native cryptocurrency of the job, lodestar (LODE), has actually decreased by 53% in the last 24 hours relative to the US dollar.

On Nov. 23, 2022, just 18 days prior, LODE reached an all-time high of $0.718 per system. LODE’s value has actually experienced a 24-hour rate series of roughly $0.13 to $0.369 per system, and it is currently down 76.1% from that value. As of the time of publication, LODE is trading for $0.173 per coin.

Arbitrum Blockchain DeFi Hacking
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Saheel Khirodkar
  • Twitter
  • Pinterest
  • Instagram
  • LinkedIn

Saheel works as a content writer for Bitnewstoday. He has always been interested in journalism and enjoys writing. Furthermore, His interest lies in cryptocurrency, and is continuously seeking for new techniques to invest. In his free time, he enjoys staying up to date on the latest industry news and spending time with his family.

Related Posts

Bitcoin’s Next Step: Integration with New Social Systems Technology to Achieve Monetary Status

January 13, 2023

Sensory Immersion Takes Over: Touch and Smell Set to Revolutionize the Metaverse at CES 2023

January 13, 2023

Kraken Announces FLR Token Distribution via Email: Details Inside

January 13, 2023

Hive’s Power Play Pays Off: Earns Equivalent of 184 BTC by Curbing Energy Use in December

January 13, 2023
View 1 Comment

1 Comment

  1. steyr aug bayonet on January 10, 2023 2:39 am

    Hi! This is my first comment here so I just wanted to give a quick shout out and tell you I genuinely
    enjoy reading through your blog posts. Can you recommend any other blogs/websites/forums that
    deal with the same subjects? Thanks for your time!

    Reply

Leave A Reply Cancel Reply

Top Posts
Advertisement
Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Advertisement
Demo

Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Top Insights

Bitcoin’s Next Step: Integration with New Social Systems Technology to Achieve Monetary Status

January 13, 2023

Sensory Immersion Takes Over: Touch and Smell Set to Revolutionize the Metaverse at CES 2023

January 13, 2023

Kraken Announces FLR Token Distribution via Email: Details Inside

January 13, 2023
IMPORTANT LINKS
  • DMCA
  • Editorial Policy
  • Fact-Checking Policy
  • About Us
  • Bitnews Home
  • Contact Us
  • Disclaimer
  • Our Team
  • Privacy Policy
  • Terms & Conditions
  • Write For Us

Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

Bitcoin’s Next Step: Integration with New Social Systems Technology to Achieve Monetary Status

January 13, 2023

Sensory Immersion Takes Over: Touch and Smell Set to Revolutionize the Metaverse at CES 2023

January 13, 2023

Kraken Announces FLR Token Distribution via Email: Details Inside

January 13, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Welcome to BitNewsToday, where we bring you the latest updates and insights on the world of digital currencies. Whether you’re a seasoned crypto trader or just starting to learn about this exciting and rapidly-evolving industry, we’ve got you covered.

Top Insights

Bitcoin’s Next Step: Integration with New Social Systems Technology to Achieve Monetary Status

January 13, 2023

Sensory Immersion Takes Over: Touch and Smell Set to Revolutionize the Metaverse at CES 2023

January 13, 2023

Kraken Announces FLR Token Distribution via Email: Details Inside

January 13, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Instagram Pinterest LinkedIn
  • Home
  • About Us
  • Disclaimer
  • DMCA
  • Editorial Policy
  • Fact-Checking Policy
  • Our Team
  • Privacy Policy
  • Terms & Conditions
  • Write For Us
© 2023 BitNewsToday

Type above and press Enter to search. Press Esc to cancel.