Defi Platform Moola Exploited for $8.4 Million in Incident Des | Moon Retriever

Defi Platform Moola Exploited for $8.4 Million in Incident Described as ‘Incredibly Simple Attack’

Moola, a decentralized finance (defi) lending and borrowing platform, was recently exploited for $8.4 million in what has been described as an “incredibly simple attack.” Moola responded to the attack by pausing all activity on the platform. The defi platform also told the attacker(s) it was willing to negotiate a “bounty payment in exchange for returning the funds within the next 24 hours,” and Moola Market has since claimed that “93.1% of funds have been returned to the Moola governance multi-sig.”

Funds Siphoned From MoolaThe decentralized finance (defi) lending platform Moola has become the latest such platform to be breached and digital assets worth $8.4 million were siphoned in what has been described as “an incredibly simple attack.” According to a Twitter user named Igor Igamberdiev, the digital assets that the attacker made off with include 8.8 million CELO ($6.5 million) and 1.8 MOO ($0.6 million) tokens as well as euro and dollar stablecoins valued at $1.3 million.

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