DeFi app Steadefi exploited, over $334,000 stolen

- Steadefi, a decentralized finance app, has been exploited in an ongoing attack, putting all funds at risk and causing its total value locked to plummet.

- The app's development team confirmed the attack on Twitter and has attempted to negotiate with the attacker via an on-chain message.

- The attacker allegedly stole the private key to the team's deployer wallet, allowing them to perform ownerOnly functions and drain all loanable funds.

- Collateral held in vaults and not lent out has not been drained, so some users may still be able to withdraw their funds.

- Exploits continue to plague the DeFi space, with recent attacks on CoinsPaid and Curve protocol resulting in millions of dollars stolen.