Defrost Finance, the decentralized trading platform that suffered a $12 million exploit in the days leading up to Christmas, has denied allegations that it had “rugged” its users as part of an elaborate “exit scam.”
On Dec. 23, the platform announced it suffered a flash loan attack, leading to the draining of user funds from its v2 protocol. One day later, another incident saw a hacker steal the admin key for a second “much larger” attack on the v1 protocol.