Hacking happens almost every day in the cryptocurrency industry.
According to The Block's report, Conic Finance, the DeFi protocol, was recently hacked.
Accordingly, the attacker exploited a security vulnerability and stole 1700 Ethereum (ETH), valued at over $3.2 million.
Blochain security company BlockSEC said in its post that Coic Finance was hacked and that the attacker had encountered other hacking events before.
@ConicFinance is attacked https://t.co/Igqeu3pgpU, leading to a profit of more than 3M.
— BlockSec (@BlockSecTeam) July 21, 2023
Coinc Finance, on the other hand, said in its post:
“We continue to investigate the root cause of the abuse and are consulting with relevant parties.
We have disabled ETH Omnipool deposits in Conic Finance.”
Followed with Conic on this one. Issue was identified, only ETH omnipool is affected there https://t.co/dhuCKfuWC8
— Curve Finance (@CurveFinance) July 21, 2023
Following the news of the hack, Conic Finance's token CNC dropped 35%.
*Not investment advice.
