DeFi Protocol ApeRocket Lost $1.26 million after two attacks using quick loans – Bits Media

ApeRocket, aggregator of decentralized financing pharming services (DeFi), suffered from two attacks using quick loans and suffered losses on $1.26 million.

According to the article on the developers blog, Attacks took place on the Aperocket Protocol on Binance and its Fork on Polygon from a difference of several hours in this environment. Two attacks using fast loans were carried out through AAVE and PANCAKESWAP, and the total losses from them were $1.26 Milln in cryptoactives.

In both cases, significant amounts were borrowed in AAVE and CAKE - the hacker held more 99% money in storage facilities of two protocols. Then large amounts were sent to the storage contract, which led to the release of a large number of Aperocket Space tokens.

After that, borrowed money was returned, And the attacker sold his generated tokens, which led to a fall in the price of Space approximately 63%. The release of tokens is temporarily discontinued, While the developers of the protocol are resolving the issue of compensation to users.

Recall, that in April a project of decentralized finance Uranium Finance, working on Binance Smart Chain, was hacked during migration. Hackers stole various tokens on $50 million. In May, the hacker released and sold fnx tokens on $7.4 Milln after hacking the Defi Finnexus protocol.

In May, the Binance Exchange said, that is not responsible for the hacks and vulnerabilities of the DeFi protocols on the Binance Smart Chain blockchain, and cannot carry out "kickbacks" and return the stolen money.