9th Largest DeFi 'DODO' Hacked For Over $3.8 Mln's.

9th Largest DeFi 'DODO' Hacked For Over $3.8 Mln's.

2021-03-09 | Robin Williams

9th Largest DeFi 'DODO' Hacked For Over $3.8 Mln's.

DeFi [Decentralized finance] platform DODO has been hacked for over $3.8 Mln worth of tokens. Within an official announcement, DODO outlined that it expects slightly below half those funds [$1.88 Mln] to be returned. The DEX [Decentralized exchange] runs on Ethereum and Binance Smart Chain [BSC]. It's the ninth-largest DEX by value locked, consistent with data site DeFi Pulse. DODO offers liquidity to traders by miners contributing to "Crowdpools." Four of those pools – WSZO, WCRES, ETHA, and FUSI - were suffering from the exploit. The hackers exploited a bug within the pools' smart contract to make counterfeit tokens that were then transferred to their wallets employing a flash loan. Also earlier last week, the similarly BSC-based Meerkat Finance was hacked for $31 Mln only one day after launch. In line with the latest update from the DODO team: DODO

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