Yearn.finance (YFI) took a strong hit around 24 hours ago when a yet-to-launch project related to protocol experienced a bug. For those that don’t know, Andre Cronje, founder of Yearn.finance, deployed a series of new contracts relating to a new, still-to-launch game called Eminence Finance. Eminence is slated to be an Ethereum-based card game with a focus on guilds. Users, largely YFI holders, deployed capital into the Eminence contracts despite no official launch or website. Unfortunately, there was a bug in the deployed contracts that allowed a user to withdraw $15 million worth of DAI from the contracts by putting in much less. Many immediately sold their YFI after the bug was exploited for that $15 million. The coin remains down around 15-20% since the bug was exploited as there remains uncertainty in the market. Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase Yearn.finance (YFI) Still Down After EMN Imbroglio Yearn.finance currently tra...
Comments
Post a Comment