The popularity of DeFi as EMN seems to make investors very enthusiastic when they see that a DeFi project is being developed, although it is not guaranteed in terms of safety for investor funds.
As felt by EMN protocol DeFi investors who had to experience hacks and lost $ 15 billion worth of money in digital currency. This hack occurred because the DeFi EMN project developed by Andre Cronjer was not audited.
Yet the DeFi project is building the in-game economy for the game multiverse, and is expected to be more than three weeks away from the completion of an untested and unaudited version launched on UniSwap.
“This contract, or the ecosystem is not final, just yesterday you saw me deploying 2 separate batches of contracts, this is my usual trial process,” said Andre Cronjer, in a tweet.
The hackers attacked the smart contracts and consumed $ 15 million in stored assets. The hackers scored “lots of EMN on a tight curve, burned EMN for one of the other currencies, and sold the EMN currency”.
However, the good news is that the hackers returned $ 8 million to Andre Cronjer’s yearn.finance developer account. Then, Andre Cronjer will send back the $ 8 million to the original holder based on the circumstances before being hacked.
Previous hacks also took place and attacked the cryptocurrency exchange KuCoin worth $ 150 billion in crypto assets, where the tokens stolen by hackers were transferred to a number of DeFi coins such as Chainlink (LINK) and so on.