Cryptocurrency [loss] $8M+

"$8.2M Lost as Visor Finance Suffers Latest DeFi Hack"

2021-12-21 [vendor] Visor Finance [chain] ethereum
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

  1. 2021-12-21 Breach occurred
  2. 2021-12-21 Publicly disclosed