According to ChainCatcher, Cointelegraph reported that hackers successfully stole funds by exploiting the smart contract of the defunct decentralized finance (DeFi) lending protocol Yield Protocol.
Yield Protocol shut down in December 2023, citing difficulties in coping with insufficient business demand and global regulatory pressure. After the closure, Yield Protocol repeatedly advised investors to close their positions, withdraw funds and repay pending loans. Despite the warnings, an unknown hacker stole approximately $181,000 worth of crypto assets from Yield's strategic contracts on the Arbitrum blockchain. The hack was first announced by blockchain investigation firm PeckShield and later confirmed by CertiK.
After subsequent investigation, CertiK found that: "The attacker exploited the difference between the pool token balance and the total supply of the flash loan assets, and then extracted additional pool tokens." Official support for Yield Protocol ended on February 2, and attempts to recover the funds stolen by the hacker seem unlikely.