Defrost Finance Denies Rug Pull Allegations Amid $12M Exploit
The group says it’s retrieved all the funds after offering a bounty to the hacker. Source
Read MoreThe group says it’s retrieved all the funds after offering a bounty to the hacker. Source
Read MoreDefrost Finance, the decentralized trading platform that suffered a $12 million exploit in the days leading up to Christmas, has denied allegations that it had “rugged” its users as part of an elaborate “exit scam.”On Dec. 23, the platform announced it suffered a flash loan attack, leading to the draining
Read MoreAfter recovering the funds lost in a recent flash loan exploit, decentralized leverage-trading platform Defrost Finance is planning to return the funds to their rightful owners, according to a new announcement. In a Medium post, Defrost highlighted that it will soon be refunding the assets to their original holders and will be
Read MoreBlockchain security firm Peckshield, citing “community intel,” said at the time that the exploit may have been a rug pull that made off with $12 million. Earlier today Certik, also a security company, said it had been unable to contact members of the team and posted a graphic indicating it
Read MoreOn Dec. 26, blockchain security firm CertiK issued a warning alleging that Defrost Finance, a decentralized leverage-trading platform on the Avalanche blockchain that recently suffered an exploit, is an “exit scam.” The move came just as Defrost announced that “the hacker involved in the V1 hack [but not the v2
Read MoreIn a tweet thread posted Dec. 25, the Defrost team said a first attack used a flash loan to drain funds out of its V2 product. A second larger attack used the owner key to exploit V1. The protocol, which offers leveraged trading on the Avalanche blockchain, didn’t say how
Read MoreDefrost Finance, a decentralized leveraged trading platform on Avalanche blockchain, announced that both of its versions — Defrost V1 and Defrost V2 — are being investigated for a hack. The announcement came after investors reported losing their staked Defrost Finance (MELT) and Avalanche (AVAX) tokens from the MetaMask wallets.Moments after
Read More