DeFi Protocol Conic Finance Hacked for 1,700 Ether

Decentralized finance (DeFi) protocol ConicFinance said Friday that it had suffered an exploit that allowed an attacker to grab over 1,700 ether (ETH). By shauryamalwa

Decentralized finance protocol Conic Finance said Friday that it had suffered an exploit that allowed an attacker to grab over 1,700 ether , worth over $3.6 million at current prices, that affected one of its Omnipools.

Conic Finance, which went live on March 1, allows users to deposit tokens into its Omnipools, a new product that diversifies exposure across the Curve ecosystem while increasing rewards. The protocolin capital shortly after going live, suggesting huge demand for such a product.

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