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Crypto fund Polychain Capital has picked up a further 141 YFI — the token that powers Yearn Finance — in a move yesterday that expanded on its investment in the decentralized finance (DeFi) protocol. …
The coffers of Pickle Finance, a decentralized finance (DeFi) protocol with a native token that looks suspiciously like Pickle Rick, of Rick and Morty fame, were drained today of $20 million in what appears to be a hack.
Pickle Finance shifts investors’ money around different DeFi protocols to maximise returns, a little like a traditional robo-advisor.
Following the hack, the price of Pickle Finance’s token, PICKLE, fell by 43.8%, according to Coin Gecko, to $12.75.
Until it works out what’s going on, Harvest Finance, a rival DeFi protocol that last month was hacked for $30 million, has moved all of its DAI, as well as stablecoins USDC and USDC, “to the safety of its vaults until the attack vector is understood,” tweeted Smokatoke, a community rep for Harvest Finance.