Decentralized Finance (DeFi) Protocol Detects System Vulnerability: “Withdraw Your Funds Now”


Decentralized Finance (DeFi) Protocol Detects System Vulnerability: "Withdraw Your Funds Now", a decentralized lending protocol, announced that it has identified a possible way some of its users could be hacked and advised its users to withdraw their cryptocurrency funds as soon as possible.

The protocol announced the issue on its official Twitter account a few hours ago.

According to the statement, the vulnerability may affect some borrowers but not lenders, so the protocol advises users to pay off their debts and remove their collateral. In addition, according to the statement, it is stated that it is appropriate for the lenders to remove their liquidity from the protocol.

The protocol said it is working to fix the issue and re-release the platform after it has been run by various security auditors. He also stated that they do not expect a long response time.

In the world of DeFi, more than 20 attacks took place in August alone, and more than $ 17 million of funds fell into the hands of hackers. They are trying to mix the funds by sending a large portion of them as Ethereum to Tornado Cash. However, wallets that use mixing services such as Tornado Cash are often blacklisted by exchanges.

*Not investment advice.


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