Block Journal
No Result
View All Result
  • Login
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
Magazine
Newsletter
  • Trending Now
  • Bitcoin
  • Altcoin
  • Ethereum
  • Analysis
  • Blockchain
  • Metaverse
  • NFT
  • DeFi
  • Web3
  • GameFi
  • ICO
  • Legal
  • Security
Block Journal
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianopt Portuguêsru Русскийes Españolth ไทยzh-CN 简体中文hi हिन्दीja 日本語
No Result
View All Result
Block Journal
No Result
View All Result
  • News
  • Crypto
  • Markets
  • Investing
  • Videos
  • Charts
Home Crypto DeFi

DeFi Protocol Tender.fi Hacker Returns $1.6M Following Chainlink Oracle Glitch

News Room by News Room
March 11, 2023
in DeFi
Reading Time: 2 mins read
0 0
A A
0

www.coindesk.com

10 March 2023 11:47, UTC

  

Reading time: ~2 m

A white hat hacker that targeted DeFi protocol Tender.fi has returned $1.6 million that was stolen on Tuesday, receiving a 62.15 ether ($85,000) bug bounty instead.

The attack occurred after Tender.fi upgraded its price feed to relay data from a Chainlink pricing oracle as opposed to a time-weighted average price (TWAP). The code, which was audited by PeckShield, contained an error and returned a number with too many zeros behind it. This meant the attacker was able to deposit one GMX token, worth around $70, effectively tricking the system into allowing infinite borrows, according to a postmortem published on Tender.fi’s Medium page.

After extracting $1.6 million from the protocol, the hacker left an on-chain message: “It looks like your oracle was misconfigured. Contact me to sort this out.”

Tender.fi reached out and agreed to pay the white hat hacker a 62.15 ether bug bounty.

The protocol plans to deploy a new rewritten oracle contract before unpausing borrowing. It has also vowed to repay any unpaid debt left behind by the hacker.

The TND token, which plunged by 34% on Tuesday, is trading at $1.87. It has increased by 2.37% in the past 24-hours against its ethereum pair but remains down by 7.62% against its U.S.dollar pair following a crypto market rout.

Read the full article here

ShareTweetSharePinShareShareSend

Related News

Uniswap Surpasses 250 Million Swaps, Solidifying DeFi Dominance
DeFi

Uniswap Surpasses 250 Million Swaps, Solidifying DeFi Dominance

June 9, 2023
DeFi Trading Surges as Centralized Exchanges Feel Regulators’ Wrath
DeFi

DeFi Trading Surges as Centralized Exchanges Feel Regulators’ Wrath

June 9, 2023
About 42% of DAI’s Initial Use Cases Are For Decentralized Exchanges
DeFi

About 42% of DAI’s Initial Use Cases Are For Decentralized Exchanges

June 9, 2023
TrueUSD (TUSD) New Farming Pools Now Live on Megaton Finance
DeFi

TrueUSD (TUSD) New Farming Pools Now Live on Megaton Finance

June 9, 2023
Real World Asset (RWA) Could Be DeFi’s New Area Of Prospects?
DeFi

Real World Asset (RWA) Could Be DeFi’s New Area Of Prospects?

June 9, 2023
Sui-based NemoSwap’s investors deny involvement in $3M seed round
DeFi

Sui-based NemoSwap’s investors deny involvement in $3M seed round

June 8, 2023
Curve Finance now lets you use wrapped staked ether to borrow its stablecoin
DeFi

Curve Finance now lets you use wrapped staked ether to borrow its stablecoin

June 8, 2023
DeFi Unfazed by SEC’s Classification of Tokens as Securities
DeFi

DeFi Unfazed by SEC’s Classification of Tokens as Securities

June 8, 2023
SushiSwap Announces Integration Of V3 Product Suite On Avalanche
DeFi

SushiSwap Announces Integration Of V3 Product Suite On Avalanche

June 7, 2023

Discussion about this post

Latest News

Binance Adds Stablecoin Spot Trading Pairs, Launches Fee Promotion & Discontinues Auto-Conversion for Stablecoins

Binance Margin & Binance Earn System Upgrade Notice (2023-06-13)

June 10, 2023
US Banks Doing ‘Very Little’ To Recover $24,000,000,000 Stolen From Customers This Year: Report

US Banks Doing ‘Very Little’ To Recover $24,000,000,000 Stolen From Customers This Year: Report

June 10, 2023
Microsoft to move top AI experts from China to new lab in Canada

Microsoft to move top AI experts from China to new lab in Canada

June 10, 2023
Real-world asset protocols outperform DeFi blue chips due to tokenization wave

Real-world asset protocols outperform DeFi blue chips due to tokenization wave

June 10, 2023
Gold Price Forecast: XAU/USD plunges amidst US economic resilience, high US bond yields

Gold Price Forecast: XAU/USD hovers around $1,960 with no clear direction

June 10, 2023
ADVERTISEMENT

Popular

  • Canada’s budget measures brighten funding prospects for critical miners

    Danske Bank raises profit goal, puts Norway retail unit up for sale

    0 shares
    Share 0 Tweet 0
  • EUR/USD has likely bottomed out for now – Nordea

    0 shares
    Share 0 Tweet 0
  • Slump in global cashew demand pushes Ivory Coast industry to verge of collapse

    0 shares
    Share 0 Tweet 0
  • Iran’s president visits Syria as he seeks to bolster Tehran’s sway over ally

    0 shares
    Share 0 Tweet 0
  • EUR/USD: Growth perspectives are not positive and could set the stage for further Euro weakness – NBF

    0 shares
    Share 0 Tweet 0
Block Journal

Block Journal is the world’s leading source in blockchain news and updates. Follow us to stay up-to-date with all you need to know in web3.

LEARN MORE »

Recent Posts

  • Binance Margin & Binance Earn System Upgrade Notice (2023-06-13)
  • US Banks Doing ‘Very Little’ To Recover $24,000,000,000 Stolen From Customers This Year: Report
  • Microsoft to move top AI experts from China to new lab in Canada

Trending Topics

Altcoin Analysis Bitcoin Blockchain Commodities Crypto DeFi Ethereum Forex Futures GameFi ICO Investing Legal Markets Metaverse News NFT Security Stocks Uncategorized Videos Web3

Get Informed

The most important crypto and finance news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • About
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Copyright © 2023 Block Journal - Created by Sawah Solutions.

No Result
View All Result
  • Home
  • News
  • Crypto
  • Markets
  • Investing
  • Glossary
  • Videos
  • Charts
    • Crypto
    • Forex
    • Stocks
    • Commodities
  • Magazine

Copyright © 2023 Block Journal - Created by Sawah Solutions.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.