Yearn Finance Suffers $9 Million Loss Due to Unauthorized yETH Minting Incident

Yearn Finance has suffered a significant loss of $9 million due to an unauthorized attack on their legacy yETH token contract. The attacker exploited a loophole in the contract, which allowed them to mint unlimited amounts of yETH tokens and drain connected liquidity pools. The incident involved a unique design flaw, leading to swift asset depletion across two main platforms.