DeFi: Tender.fi's TND Token Drops By 30% As Hack Rumors Arise
It looks like hacks and attacks on decentralized finance [DeFi] platforms were carried into 2023. While the year started off on a good note, rumors about the prominent DeFi platform Tender.fi began surfacing. However, a majority of them believe that this was done by a white hat hacker. But it made no difference to the firm’s native token, TND, which took a huge hit. Without confirming or denying the attack, Tender.fi took to Twitter and acknowledged the chaos. The DeFi firm pausing borrowing services further impacted the price of TND. Tender.fi further stated, “We are investigating an unusual amount of borrows that came through the protocol- in the meantime, we have paused all borrowing. Thank you for your patience.” Lookonchain shared a tweet suggesting that this was mostly because of a misconfigured pricing oracle. The network believes that a white hat hacker borrowed $1.59 million in assets from the DeFi firm while depositing only 1 GMX token which is...