Yearn Finance Suffers Major Exploit, Losses Reach $9 Million

Yearn Finance has been hit by a significant exploit that caused the loss of millions in cryptocurrency. The attacker used complex strategies to drain liquidity from the platform’s yETH stablecoin pool, leaving investors concerned and prompting an investigation into the attack. 1000 ETH worth approximately $3 million were moved to privacy network Tornado Cash after draining the liquidity pool. While Yearn Vaults V2 and V3 remain untouched, investigators are working to understand how this event occurred. The incident highlights the need for continued vigilance in the DeFi space as vulnerabilities can be exploited by attackers.