Home DeFi Flash Loan Hacker Causes $12 mn Loss

DeFi Flash Loan Hacker Causes $12 mn Loss

Share
Share

Defrost Finance, a decentralised leveraged trading platform built on the Avalanche blockchain, has announced that both of its versions — Defrost v1 and Defrost v2 — are under investigation for a hack.

Investors reported losing their staked Defrost Finance (MELT) and Avalanche tokens from MetaMask wallets, prompting the announcement.

Doran, a core team member at Defrost Finance, confirmed that Defrost v2 was hit with a flash loan attack just moments after a few users complained about the unusual loss of funds. At the time, the platform believed Defrost v1 was unaffected by the hack and decided to suspend v2 for further investigation.

At the time, the platform believed Defrost v1 was not impacted by the hack and decided to close down v2 for further investigation.

Blockchain investigator PeckShield found that the hacker manipulated the share price of LSWUSDC, leading to a gain of roughly $173,000 for the hacker.

(Reporting by Shikha Singh, Editing by Kapil Rajyaguru)

Share

Latest News

BNB Chain Sets October 28 Date For Jenner Hard Fork: 3 Key Changes
News

BNB Chain Sets October 28 Date For Jenner Hard Fork: 3 Key Changes

BNB Chain’s Jenner hard fork is set to take place on October 28, 2026, on the BNB Smart Chain testnet. Payment Lane...

Bybit Secures Full Dubai License To Offer Regulated Crypto Services
News

Bybit Secures Full Dubai License To Offer Regulated Crypto Services

Cryptocurrency exchange Bybit has obtained a full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). It is...

Switzerland’s First Retail Spot Bitcoin ETF Targets November Launch
News

Switzerland’s First Retail Spot Bitcoin ETF Targets November Launch

Switzerland is set to offer its first-ever spot Bitcoin exchange-traded fund (ETF) for retail investors to trade in November 2026. The Swiss...

Anchorage Enables SharpLink’s $200M Ethereum Deployment On Blockchain
News

Anchorage Enables SharpLink’s $200M Ethereum Deployment On Blockchain

Sharplink, a Nasdaq-listed company that owns Ethereum (ETH) as the company’s primary treasury asset, has executed a $200 million on-chain deployment that...

Related Articles

Reasons Why The U.S. Tops AI Agent Commerce

The concept of agentic commerce where agents can purchase digital services and...

Do You Need A Cryptocurrency Trading Bot?

The crypto market never closes. Bitcoin can move while you are sleeping,...

How To Use Dexscreener To Find Crypto Gems

If you have ever looked at a new crypto token and wondered...

How To Build AI Agents From Scratch

Artificial Intelligence (AI) is no longer just about answering questions since AI...