Cryptocurrency
[loss] $8M+
"$8.2M Lost as Visor Finance Suffers Latest DeFi Hack"
Primary Source ↗Financial Loss
$8.2M
(8,200,000 USD)
Blockchain(s)
Ethereum
Incident Details
A reentrancy exploit in the Ethereum-based Visor Finance DeFi protocol allowed hackers to pull 8.8 million VISR tokens out of the network, equivalent to about $8.2 million. The VISR token went from trading at around $0.93 to around $0.04, losing more than 95% of its value. The Visor team subsequently announced that they would perform a token migration to compensate affected users. Visor has suffered other hacks since its launch earlier in 2021, despite having undergone several audits.
Total loss estimated at $8,200,000.
Technical Details
- Initial Attack Vector
- Reentrancy attack on smart contract
- Vendor / Product
- Visor Finance
Timeline
- 2021-12-21 Breach occurred
- 2021-12-21 Publicly disclosed