2020-11-22 00:14 |
The perils of decentralized finance in the spotlight yet again after the latest major DeFi exploit
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Nexus Mutual has launched the Custody Cover program for hack victims, one of many such solutions to launch in the DeFi industry recently. On Dec. 2, decentralized insurance platform, Nexus Mutual, announced the launch of Custody Cover, a coverage solution for hack victims.
In the latest of a long string of decentralized finance protocol exploits, Pickle Finance lost as much as $20 million in an attack on its DAI farms this weekend. The DeFi protocol posted that hackers exploited its DAI ‘pickejar’ strategy and that it was looking into the incursion.
Holders of Pickle Finance’s native coin PICKLE are currently suffering from a 50% drawdown after the protocol was attacked by an unknown user. Details are still unclear about the attack but the loss of funds has resulted in users pulling their liquidity and selling the cryptocurrency en-masse. PICKLE is down to $11.50 as of this […]