DeFi
TND, the native token of decentralized finance (DeFi) protocol Tender.fi, has slumped by 34% after the platform mentioned it’s paused borrowing on Tuesday.
The token, which trades totally on decentralized change Uniswap, is altering fingers at $1.99, down from Monday’s excessive of $3.56.
“We’re investigating an uncommon quantity of borrows that got here by way of the protocol- within the meantime, we’ve paused all borrowing. Thanks to your endurance,” the Tender.fi workforce wrote on twitter.
Blockchain sleuth Lookonchain mentioned that attributable to a misconfigured pricing oracle, a white hat attacker borrowed $1.59 million in belongings regardless of solely depositing one GMX token price $71.
A white hat hacker is somebody that assaults a platform earlier than returning the loot.
