According to a report by The Block on December 1, 深潮 TechFlow, Yearn Finance's yETH product (an index token that aggregates liquid staking tokens) was hacked on November 30. The attacker was able to mint nearly an unlimited number of yETH tokens through a carefully designed vulnerability, draining the liquidity pool in a single transaction.
Blockchain data shows that approximately 1000 ETH (worth about 3 million USD) has been transferred to the mixing service Tornado Cash. Before the attack, the total value of the yETH liquidity pool was around 11 million USD, and the current total loss size is still unclear.
Yearn Finance has confirmed on social media that it is investigating the incident and stated that its Vault products (versions V2 and V3) are unaffected. It is worth noting that the protocol previously suffered a similar attack in 2021, which resulted in a loss of 11 million dollars.
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