Grim Finance loses $30M worth of Fantom (FTM) tokens in an exploit
Hassan Maishera - Cryptowisser
Yield compounding tool Grim Finance lost $30 million worth of Fantom tokens in an exploit during the weekend. The team said, “Hello, Grim Community. It is with heavy hearts that we inform you that our platform was exploited today by an external attacker roughly 6 hours ago. The attacker's address has been identified with over 30 million dollars worth of theft here.”
Grim Finance is built on the Fantom blockchain and allows users to stake their liquidity pool tokens in Grim Vaults. The hack was an advanced attack where the hacker exploited the protocol’s vault contract through five reentrancy loops.
FTM, the native token of the Fantom blockchain, is trading at $1.35 at press time, down by nearly 6% in the past 24 hours.
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