Akropolis DeFi hacked for 2 million DAI

[Sykkuno 2887]

Akropolis, a DeFi platform was recently exploited of two million dollars hackers managed to get out in form of DAI tokens, using flash loans.

The Akropolis protocol has been paused since then and the team is performing research together with security experts and 

The code of Akropolis project was audited twice yet the hackers managed to attack CurveY and Curve sUSD saving pools using the dYdX exchange flash loans functions.

 

Price of the Akropolis token dropped 20% because of this exploit trading now at $0,0098 on Binance.

 

Report from Cointelegraph: https://cointelegraph.com/news/akropolis-defi-protocol-paused-as-hackers-get-away-with-2m-in-dai

 

[Sykkuno 2887]

4 hours ago, Gyjmsy said:

To be honest, I have not heard about this, I do not know if it was hacked for 2 million.

I gave the link from the source that I read about this. It was in more news too so it is something that happened as the people within this project discussed it in Twitter too. It happened and it was not the first DeFi that had something similar.

[JesusFries 1958]

This is the first time I heard about DeFi Project being hacked and it is too alarming that even projects like this are being targeted by these people. With the recent hacking happened in the crypto world indicates that these hackers are really doing their utmost efforts to develop their skills in hacking and this is why platforms like this should really improve their security systems. 

[nykas 2812]

Last time I see a lot of news regarding DeFi projects which were hacked, so it`s quite interesting situation, that projects which were so popular some time ago are not secured and people can lose money investing in such projects 

[kryptonick 2659]

The code auditors should be liable to pay for any attacks. It is interesting how these audits are performed too as lately there have been many audited defi that end in the dumpster. Perhaps two or twenty million are not so important yet there have been so many failures not forgeting the DAO hack.

[Raqeebzy 6456]

On 11/13/2020 at 9:35 AM, Sykkuno said:

Akropolis, a DeFi platform was recently exploited of two million dollars hackers managed to get out in form of DAI tokens, using flash loans.

The Akropolis protocol has been paused since then and the team is performing research together with security experts and 

The code of Akropolis project was audited twice yet the hackers managed to attack CurveY and Curve sUSD saving pools using the dYdX exchange flash loans functions.

It has come to stage almost every news about DeFi is a protocol getting hacked due to voids and bug in smart contract in most cases. Cyber criminals have seen an easier (maybe not too easy) haven to carry out their laundering with weak projects in DeFi. It is worrying a lot are taking a rush into DeFi with little or no experience how it works and how smart contracts are being secured.

[Whited35 15285]

6 minutes ago, Raqeebzy said:

It has come to stage almost every news about DeFi is a protocol getting hacked due to voids and bug in smart contract in most cases. Cyber criminals have seen an easier (maybe not too easy) haven to carry out their laundering with weak projects in DeFi. It is worrying a lot are taking a rush into DeFi with little or no experience how it works and how smart contracts are being secured.

@Raqeebzy Hackers managed to lure a huge amounts via flash loan! Clearly, DApps developers have very challenging time ahead to secure users' assets locked in the smart contracts of the DeFi platforms. They need to create bugs free programming for the strongest encryptions. As you have said, crazy investors started to trust random DeFi protocols without caring their age in DeFi sphere. 

[Raqeebzy 6456]

27 minutes ago, Whited35 said:

@Raqeebzy Hackers managed to lure a huge amounts via flash loan! Clearly, DApps developers have very challenging time ahead to secure users' assets locked in the smart contracts of the DeFi platforms. They need to create bugs free programming for the strongest encryptions. As you have said, crazy investors started to trust random DeFi protocols without caring their age in DeFi sphere. 

Very challenging mate. And that has always been my main concern with DeFi protocols. In fact, I have come across lots of projects which looks juicy for investment but I more concerned of my capital investment before the possible profits. Example, YFI3. 

[velasco19 1753]

This kind of news shows us that DeFi is revolutionary, but it still has to greatly improve its security and audit the dapps by an expert firm because it is difficult for investors to trust their money in the new protocols that emerge, that sector in the future will be more important that today.

[Aqsa1234 142]

Before knowing about this news I thought that defi is Soo safe and secure . I really forgot about the power of hackers and scamers but as I came to know that it is hacked by million of people for million of dollars then I became totally shocked. After that I thought that it has still a great need to improve it's security measures. After that it will be able to become a secure and safe platform for earning.

[Mahedi 38]

DeFi projects which were hacked, so it`s quite interesting situation, that projects which were so popular some time ago are not secured and people can lose money investing in such projects .

[Ridam 7455]

The major concerns right now growing with most of the De-Fi platforms is they are too hurry in launch of their product without testing the possible attacks and removing bugs. And because of that we are seeing many platforms witg good number of investors getting hacked and hackers just exploit the bugs they found and its all gone in matter of sec. So to sum up, investing in those De-Fi thst are pretty new to the market seems really risky right now.