Major Security Breach at Li.Fi DeFi Protocol: Funds Worth $11 Million Compromised
Tuesday, 16 July 2024, 16:35
Li.Fi DeFi Protocol Hacked for $11 Million
About $11 million worth of Ethereum and stablecoins were swiped from cross-chain DeFi protocol Li.Fi, the project confirmed to Decrypt.
Security Breach Impacting Investors
- Theft: Approximately $11 million in funds compromised
- Confirmation: Project confirms the incident
- Vulnerabilities: Exposed weaknesses in DeFi systems
This breach highlights the need for enhanced security measures in decentralized finance to safeguard investor funds and protect against future attacks.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.