Hackers stole over $180,000 in crypto using the smart contract of the defunct DeFi protocol Yield Protocol

According to a report by Cointelegraph, hackers successfully stole funds by exploiting the smart contract of the discontinued decentralized finance (DeFi) lending protocol Yield Protocol. Yield Protocol closed in December 2023 due to insufficient business demand and global regulatory pressure. After the closure, Yield Protocol repeatedly advised investors to close their positions, withdraw funds, and repay outstanding loans. Despite the warning, an unknown hacker still stole approximately $181,000 worth of cryptocurrency assets from Yield's strategic contract on the Arbitrum blockchain. The hack was first announced by blockchain investigation company PeckShield and later confirmed by CertiK. After further investigation, CertiK found that "the attacker leveraged the difference between the mining pool token balance and the total supply of flash loan assets, and then extracted additional mining pool tokens." Yield Protocol's official support ended on February 2nd, and attempting to recover the stolen funds from the hacker seems unlikely.