bEarn Fi Contract Vulnerability: $11.00M Reported Loss
The DeFi protocol bEarnFi stated that on May 16, its bVaults BUSD-Alpaca strategy was attacked, and nearly 10.86 million BUSD in the pool was exhausted.
- Reported loss
- $ 11,000,000
- Attack category
- Contract Vulnerability
Incident Overview
However, the remaining bvault and other pools of the platform are not at risk. At the same time, bEarnFi released a rough compensation plan, which will create a compensation fund, which will consist of the remaining savings funds, development funds, DAO funds, and part of the expenses incurred by the agreement. After that, a snapshot of the balance will be taken to deploy compensation contracts. Affected users will receive an additional 5% of their deposit amount.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.