By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
    Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
    May 11, 2025
    Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
    Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
    May 11, 2025
    Why is Germany such a mess? — RT World News
    Why is Germany such a mess? — RT World News
    May 11, 2025
    Pope Leo explains name: AI, worker rights
    Pope Leo explains name: AI, worker rights
    May 11, 2025
    Ukraine and allies urge Putin to commit to a 30-day ceasefire or face new sanctions – National
    Ukraine and allies urge Putin to commit to a 30-day ceasefire or face new sanctions – National
    May 11, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Why is Ethereum (ETH) price up today?
    Why is Ethereum (ETH) price up today?
    May 11, 2025
    Bitcoin SV investors attempt to resurrect 2019 Binance lawsuit
    Bitcoin SV investors attempt to resurrect 2019 Binance lawsuit
    May 11, 2025
    Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve in presidential bid
    Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve in presidential bid
    May 11, 2025
    Ethereum, Dogecoin, and Bitcoin Pepe
    Ethereum, Dogecoin, and Bitcoin Pepe
    May 11, 2025
    Taiwan eyes Bitcoin as hedge against inflation and US Treasury exposure
    Taiwan eyes Bitcoin as hedge against inflation and US Treasury exposure
    May 11, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Dough Finance Suffers Flash Loan Attack
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Cryptocurrency > Dough Finance Suffers Flash Loan Attack
Dough Finance Suffers Flash Loan Attack
Cryptocurrency

Dough Finance Suffers Flash Loan Attack

Published July 14, 2024
Share
3 Min Read
SHARE

Contents
Share this articleCategories
  • An attacker has stolen about $1.8 million from funds on Dough Finance.
  • This attack has brought to light some security issues on the platform.
  • Not all Dough Finance users were affected.

In a shocking turn of events, a flash loan attack has hit some Dough Finance users badly, robbing them of thousands of dollars. On June 12, 2024, Cyvers, a security company that provides real-time detection and prevention of crypto attacks, detected suspicious activity on the protocol.

Immediately after the company noticed the odd activity, it contacted the lending protocol, Aave, to determine if the hacker had had any impact there.

While Aave confirmed that its pools were intact and unaffected, Dough Finance, a liquidity protocol on the Ethereum network, suffered the brunt of the attack.

Not all Dough Finance users were affected; only those with funds tied to the impacted smart contract were. Despite the loss being contained, many Dough Finance users are still worried about the safety of their funds and the continued usage of the decentralised finance (DeFi) protocol.

A small vulnerability in Dough Finance’s smart contract, “ConnectorDeleverageParaswap,” gave the hacker the needed advantage. They were then able to manipulate the contract due to its failure to validate received data during calls for flash loans. Essentially, the contract failed to properly confirm or cross-check the data.

The theft occurred because the attacker swapped existing Ether (ETH) for stolen USDC, which was worth far less. This manipulation allowed the hacker to cart away roughly $1.8 million worth of ETH.

The attacker launched multiple assaults on the platform, resulting in higher losses. The loss experienced after the second attack was over $140,000. The Dough Finance team is currently investigating the cause of the attack and the extent of its effects and working to strengthen the platform’s security.

Some security experts have advised Dough Finance users to consider moving their funds to other platforms or wallets until the team can confirm the platform’s safety. They also recommend that users avoid interacting with Dough Finance’s smart contracts for now to ensure their property’s protection.


Share this article

Categories

#Dough #Finance #Suffers #Flash #Loan #Attack

TAGGED:attackdoughfinanceflashloansuffers
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article British Gas owner Centrica in talks to find new chairman British Gas owner Centrica in talks to find new chairman
Next Article India clings to cheap feature phones as brands struggle to tap new smartphone buyers India clings to cheap feature phones as brands struggle to tap new smartphone buyers
- Advertisement -

Latest Post

Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
World News
Why is Ethereum (ETH) price up today?
Why is Ethereum (ETH) price up today?
Cryptocurrency
Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
World News
Bitcoin SV investors attempt to resurrect 2019 Binance lawsuit
Bitcoin SV investors attempt to resurrect 2019 Binance lawsuit
Cryptocurrency
Why is Germany such a mess? — RT World News
Why is Germany such a mess? — RT World News
World News
Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve in presidential bid
Ex-UFC champ Conor McGregor touts Irish Bitcoin reserve in presidential bid
Cryptocurrency
- Advertisement -

You Might Also Like

Ethereum Open Interest Rises, Are Shorts Piling Up?
Cryptocurrency

Ethereum Open Interest Rises, Are Shorts Piling Up?

August 17, 2023
Bitget Supports TON Innovation: Fast-Track Listing of Viral DOGS Token
Cryptocurrency

Bitget Supports TON Innovation: Fast-Track Listing of Viral DOGS Token

August 14, 2024
India set to be world’s third largest economy in 2027: finance ministry
World News

India set to be world’s third largest economy in 2027: finance ministry

January 30, 2024
Bitcoin Price Analysis: Tight Range Tightens
Cryptocurrency

Bitcoin Price Analysis: Tight Range Tightens

August 13, 2023

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?