defrost

ChainCatcher news, the Avalanche ecosystem's native stablecoin project Defrost Finance, which was previously attacked by hackers, announced that it has deployed a refund contract and will open the refund application process on January 11 at 01:01. Defrost Finance advises users to apply for refunds as soon as possible.Earlier reports indicated that Defrost Finance was attacked in December 2022, with losses estimated to exceed $12 million. Additionally, the Defrost Finance team stated that the hacker involved in the V1 attack has returned the funds. (source link)

According to ChainCatcher news, Defrost Finance has released details about the refund process on its official blog, stating that all V1 funds that were hacked have been returned. The Defrost team will soon begin returning these assets to their legitimate owners before the attack. The main measures to be taken in the coming days are:All ETH in the addresses will be converted to stablecoins (possibly DAI) at the on-chain market price.All stablecoins will be transferred from Ethereum to Avalanche.The team will start scanning on-chain data to identify token ownership information prior to the hack. Details will be announced once the scanning work is completed.A refund smart contract will then be deployed. Legitimate users will be able to request their assets back in the form of stablecoins to the same address. (source link)

ChainCatcher news, Avalanche ecosystem native stablecoin project Defrost Finance announced that the hacker involved in the V1 hack has returned the funds. The address controlled by Defrost starting with 0x5Ad3 has transferred 2,443 ETH (approximately 2.97 million USD) and about 9.91 million DAI in the past 2 hours. Defrost stated that it will confirm the actual losses of affected users as soon as possible to return the funds returned by the hacker to the rightful owners. (source link)

ChainCatcher news, Avalanche ecosystem native stablecoin project Defrost Finance tweeted: "The Defrost team is willing to negotiate with the hacker and is willing to share 20% of the stolen funds in exchange for most of the stolen assets. The specific amount can be negotiated, and we urge the hacker to contact us as soon as possible."Previous report, following the hack on December 23, the Avalanche ecosystem native stablecoin project Defrost Finance protocol was attacked again, with hackers adding fake collateral tokens to the protocol and using malicious price oracles to liquidate user funds. Current losses are estimated to exceed $12 million. (Source link)

ChainCatcher news, according to PeckShield's tweet, following the hack on December 23, the Avalanche ecosystem's native stablecoin project Defrost Finance protocol has been attacked again. The hacker added fake collateral tokens to the protocol and used a malicious price oracle to liquidate user funds, with current losses estimated to exceed $12 million.It is reported that Defrost Finance's official statement noted that V1 is not affected (as it does not have a flash loan feature), and they will subsequently shut down the V2 user interface and conduct an investigation. (source link)

ChainCatcher message, the Shield monitoring shows that the financial protocol Defrost Finance on the Avalanche chain has been exploited, with hackers profiting approximately $173,000. Due to the lack of a reentrancy lock in the flashloan() and deposit() functions, the hacker borrowed all USDC without repayment. (Source link)