Reentrancy, price oracle attacks, and exploits across seven protocols caused the decentralized finance space to bleed at least $21 million in crypto in February. How do DeFi platforms improve security?
, one of the largest in the month was the flash loan reentrancy attack on Platypus Finance, which led to $8.5 million of funds lost.
Blockchain security firm PeckShield estimated the losses to be around $120 million; however, it was later revealed hackers reportedly onlyof roughly $3 million through a reentrancy attack, where attackers used a malicious smart contract to drain funds from a target with repeated withdrawal orders.
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