Cryptocurrency enthusiasts are still reeling due to the recent DeFi hack affecting dForce. In a surprising turn of events, some of the money has been returned, whereas the hackers launder other funds through different DeFi solutions.
Whenever something affects the DeFi industry, there is ample cause for concern.
dForce Hack now Affects Aave
The recent dForce hack only further illustrates the problems in this nascent industry.
With $25 million in assets being stolen by hackers, the decentralized finance industry simply isn’t ready for broader adoption.
Surprisingly, the funds is slowly making its way back to the dForce team.
Although only 10% has been given back so far, it is an interesting start regardless.
The remainder of the money, however, may end up being laundered through other DeFi solutions.
Some of the funds have made its way to Aave, another project tackling decentralized finance.
How the Aave team will handle this uneasy situation, is unclear at this time.
It seems to affect that platform’s interest rates, especially for the SNX token.
Solving all of these problems will not be easy by any means.
There have been far too many hacks and exploits affecting the DeFi industry since its inception.
Most of these events come down to coders exploiting loopholes in smart contracts which haven’t been audited by third parties.