The cryptocurrency market is facing a new wave of hacking incidents. One prominent example is Yearn Finance (YFI), an Ethereum-based DeFi protocol, which was recently hit by a significant attack that resulted in the loss of millions of dollars. Attackers exploited a vulnerability to mint a near-infinite amount of yETH tokens, depleting the liquidity pool and causing substantial financial losses. 0xa80d…c822, the attacker’s address, holds approximately $6 million in crypto assets. While the attack impacted the protocol’s LST pools, V2 and V3 vaults were unaffected, according to Yearn Finance. This incident comes on the heels of a similar attack on South Korea’s leading cryptocurrency exchange Upbit, highlighting the increasing vulnerability of DeFi projects to malicious actors. YFI suffered a 6% drop in price due to this hacking incident and the wider market decline over the past 24 hours.*