DeFi flash loan hacker liquidates Defrost Finance users causing $12M loss
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Defrost Finance, a decentralized leveraged trading platform on Avalanche blockchain, announced that both of its versions — Defrost v1 and Defrost v2 — are being investigated for a hack. The announcement came after investors reported losing their staked Defrost Finance (MELT) and Avalanche (
In 2022, North Korean hackers stole crypto worth more than 800 billion Korean won ($620 million) from decentralized finance (DeFi) platforms alone.
A spokesperson from South Korea’s National Intelligence Service (NIS) revealed that all North Korean hacks were done through overseas DeFi exploits. However, with Know Your Customer (KYC) initiatives in place, the total number of North Korean hacks saw a significant reduction.
