In the wake of Yearn.finance’s recent hack, members of the crypto community seem to be brainstorming ways to mitigate the effects of the exploit on users. With a total value locked at $491.5 million, the DeFi project recently suffered a theft of $2.8 million and cost the vault $11 million in stablecoin DAI.
In its vulnerability disclosure, Yearn revealed that a pattern of 160 complex transactions was noticed. This appeared to be the pattern of a smart contract that interacted with Yearn vaults.
After the team published the vulnerability report, Paolo Ardoino was among the first to respond. The CTO at Bitfinex said on Twitter that the company had frozen 1.7 million USDt stolen through the exploit; this may be returned to the project.
However, the move from Tether attracted much criticism about how centralized the project could be, with one Twitter user stating “very decentralized, very impressive.” The user also alleged: