Hackers withdrew from the Pickle Finance project about $20 million in DAI

Another project of decentralized financing (DeFi) hacked. This time Pickle Finance fell victim to hackers, as a result of hacking, which hackers deduced $19.7 million in DAI tokens.

After that, the rate of Pickle Finance's own token fell by 50.12% to $10.17, although then recovered a little. The developers of the project wrote on the social network Twitter:

“There have been reports that, that our DAI PickleJar pool was hacked. We are actively investigating the issue and provide the necessary information ".

Later, the developers reported, what, working on a hack with a team of computer security specialists, they discovered vulnerabilities and started fixing them.

Pickle Finance was launched in September, на волне проектов DeFi с «продуктовыми названиями», вроде Sushi Swap. It is a fully automatic system, rewarding users with deposit interest and distributing PICKLE tokens.

The project has placed several pools of liquidity with stablecoins, which must keep their value on par with the pegged asset. In case of rejection, eg, DAI rate from US dollar, the project used automatic arbitrage trading to edit the token rate, and at the same time for making profit by users.

“It was a very difficult attack, in which many components of the Pickle protocol were used. It doesn't look like at the moment, what else is there any means, blocked in the protocol, in danger. However, we urge all users to withdraw funds from the pools ", - said the developers of Pickle Finance in an article on the company's blog.

Recall, what was previously reported about a hack of the Origin Protocol project, as a result of which hackers were able to withdraw various cryptocurrencies with a total value of more $7 million.