Breaking: DAO Maker falls victim to Defi Hack, 10,000 USDC Accounts Affected

DAO Maker falls victim to Defi Hack
DAO Maker falls victim to Defi Hack

Breaking: DAO Maker falls victim to Defi Hack, 10,000 USDC Accounts Affected – The number of Defi protocols getting hacked continues to increase another protocol fell prey to the attack. Dao Maker, a crowdfunding platform was hacked and hackers managed to steal USDC from user’s top-up accounts and was replaced by ETH.

A total of 2,261 Eth, worth more than $7 million were used to transfer out USDC, as per a report from WuBlockchain.

The reason to transfer ETH for USDC is believed to be associated with freezing of assets as USDC can be frozen by Circle from a specified account. Recently, Tether froze nearly $35 million worth of USDT from the PolyNetwork hack, the largest defi hack.

According to one estimate, 9,000 to 10,000 USDC accounts on DAO Maker could have been affected by the hack.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.




About Sam Gabriel 1696 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

Be the first to comment

Leave a Reply

Your email address will not be published.


*