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Breaking: 'All funds are at risk' — Steadefi exploited in ongoing attack

Published 08/07/2023, 04:05 PM
Updated 08/07/2023, 05:40 PM
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Decentralized finance (DeFi) app Steadefi was exploited for at least $334,000 on Aug. 7 in an ongoing attack. The app's development team has said in a social media post that the attack currently "puts all funds at risk." The app's total value locked (TVL) has plummeted as a result of the attack, according to data from DeFiLama.

Steadefi total value locked. Source: DeFi Llama.

The Steadefi team posted a message to Twitter stating: "NOTICE: Steadefi has been exploited and all funds are currently at risk." They also confirmed that an on-chain message has been sent to address 0x9cf71F2ff126B9743319B60d2D873F0E508810dc on Ethereum in an attempt to negotiate with the attacker. Blockchain data reveals that a number of large inflows came into this address on the Avalanche chain, beginning at 4:41 p.m. UTC.

Steadefi sends message to attacker. Source: Etherscan

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