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Hacker was identified after the theft of $24 million from Harvest Finance

October 27, 2020

A hacker has stolen approximately $24 million worth of cryptocurrency assets from decentralized finance service Harvest Finance, a web portal that lets users finding the farming opportunities that will maximize their yield(APY) returns.

The hack took place earlier today and was almost immediately confirmed by Harvest Finance administrators in messages posted on the company’s Twitter account and Discord channel.

“On October 26, 02:53:31 AM +UTC, an attacker executed a theft of funds from the USDC and USDT vaults of Harvest Finance.” reads the security breach notification published by the company. “The attacker exploited an arbitrage and impermanent loss that influences the value of individual assets inside the Y pool of, which is where the funds of Harvest’s vaults were invested.”

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