Home Finance Hackers siphon off the DeFi Nirvana Finance protocol

Hackers siphon off the DeFi Nirvana Finance protocol

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Nirvana Financea Solana-based crypto lending protocol, has just undergone a hack. His TVL of 3.5 million dollars has fallen to zero.

This morning, hackers launched a attack of type loan flash on the decentralized protocol Nirvana Finance.

According to Coindeskthe pirates have contracted a flash loan without collateral 10 million USDC on Solend to issue 10 million dollars of tokens Nirvana (ANA) and exchange them for the 3.5 million USDT available in the main portfolio of Nirvana Finance. Believing the funds to be legitimate, the DeFi protocol released the digital coins from its wallet.

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The TVL – or total locked value – from Nirvana Finance then fell to 0,1$ against 3.5 million dollars before the hack, according to data provided by DeFillama. The ANA token price sank by more than 75%. and is currently trading below $2.

Recently, a number of DeFi protocols, such as Crema Finance ($8M stolen) or Beanstalk ($182M stolen), have been victims of flash loan attacks.

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