A possible exploit in decentralized finance (DeFi) protocol Harvest Finance has sent the platform’s native token, FARM, tumbling by 65% in less than an hour, according to CoinGecko.
Upwards of $25 million in value has been drained from Harvest Finance pools and swapped for renBTC (rBTC) by an unknown attacker. Other funds have been mixed through Tornado Cash, an Ethereum obfuscation software.
Following the attack, investors appear to have pulled roughly $350 million from the site.
“We are working actively on the issue of mitigating the economic attack on the Stablecoin and BTC pools, and will update in this thread in realtime as soon as additional details are available,” the anonymous team behind Harvest Finance said in a tweet.
