Following an exploit last night that cost yield vault project Yearn.finance $11 million in stablecoin DAI, crypto community members from multiple projects have rallied to mitigate the effects, reclaim exploited funds, and reimburse affected users.
First reported by the project at 5:09 pm EST, the exploit was a complex arbitration attack on Yearn’s version 1 DAI yield vault. According to a disclosure published by Yearn this morning, the exploit — which featured over 160 nested transactions and has been called one of the most complex to date — netted the attacker $2.7 million in profits, and cost the vault $11 million in DAI.
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