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Exploit Involving Aave V1 and Yearn Estimated to Be Around $10 Million: PeckShield

Reports have emerged of a $10 million exploit involving the DeFi protocols Aave V1 and Yearn Finance. The exploiter received a mix of stablecoins, including DAI, USDC, BUSD, TUSD, and USDT. Aave V1 has been frozen since December 2022, making the issue unlikely but not impossible, according to Aave Chan Initiative founder Marc Zeller. Aave V1 has a safety module of $382.5 million, which could be used to compensate for lost funds. Aave is currently researching the situation. Meanwhile, pseudonymous crypto researcher Samczsun claimed that Yearn Finance's version of USDT, called yUSDT, has been broken since it was deployed around three years ago.

(By Tim Copeland)

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