February 5, 2021: Yearn Hacked for $11MM 🕵️💰

Keep Ahead of the Curve

Here are today’s trends to watch from Curve Market Cap:

Sad news for DeFi this morning, as an $11MM hack hit Yearn.

The Yearn team was very prompt in addressing the situation within 10 minutes:

The hacker got away with $2.8MM of this $11MM for their efforts, although Tether put a freeze on the Tether portion of the funds:

A claim has also been filed on Cover:

The remainder of the $11MM? Much of it ran through Curve as part of the hack.

Curve was surely not behind the hack, but it ended up being the Curve community made out like bandits, with Curve stakers pocketing more than the hacker:

Check out the wild stats on 3pool:

While there’s no way for Curve to automatically return the funds, some in the community have called for voluntary donations to those affected. If we observe any such program being implemented we’ll update here.

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