15 days ago 1 min read

After $390k Hack, Poolz Finance Removes Liquidity From DEXs

  • Earlier afternoon, a hacker stole $390,000 from Poolz Finance.
  • There was an arithmetic overflow problem that led to the hack of the DeFi protocol.
  • PancakeSwap and Uniswap no longer offer liquidity from Poolz Finance.

The latest decentralized financial platform to experience a hack is Poolz Finance. Earlier morning, the DeFi protocol was compromised for $390,000 thanks to a hacker who took advantage of a contract's arithmetic overflow flaw.

Regarding the hacker, on-chain explorers have flagged their address. Poolz Finance said that all of its porting on the ChainPort.io bridge had been completely suspended. Users have been guaranteed by the protocol that new liquidity would be deployed based on the token exchange rate previous to the attack. The firm treasury will also replenish the lost liquidity.

Following the attack, native token POOLZ suffered a large loss, plunging by more than 95%. The token's price is currently $0.15, down from $4 before to the attack. In order to airdrop the new POOLZ token to all eligible addresses, Poolz Finance has stated that a new contract would be implemented.

After the attack, the native token POOLZ saw a significant loss, falling by more than 95%. The token now costs $0.15 instead of $4 as it did before the attack. Poolz Finance has announced that a new contract would be established in order to airdrop the new POOLZ token to all qualified addresses.

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