Venn Network Stops $10 Million Smart Contract Exploit Before It Strikes
2025-07-10 14:51:40
Main Idea
Venn Network researchers prevented a $10 million security breach targeting uninitialized ERC-1967 proxy contracts in DeFi projects, securing the funds before exploitation.
Key Points
1. Venn Network researchers identified uninitialized ERC-1967 proxy contracts, leaving $10 million at risk of theft.
2. The vulnerability was discovered by @deeberiroz and addressed with the help of experts like @pcaversaccio and @dedaub.
3. Berachain, a DeFi protocol, responded by securing its contracts following the discovery.
4. The issue highlights ongoing security risks in DeFi, as seen with GMX V1's recent trading suspension due to vulnerabilities.
Description
Venn Network researchers have stopped a security breach that could have stolen more than $10 million from decentralized finance (DeFi) projects.
Latest News
- Hacker Slips Malicious Code Into Ethereum Dev Tool ETHcode2025-07-11 15:51:37
- GMX Breach: Hacker Returns $20 Million, Keeps 10% as Reward2025-07-11 14:51:57
- Pump.fun Acquires Kolscan to Gamify On-Chain Trading2025-07-11 14:02:27
- Robinhood’s Low-Cost Crypto Claim Under Florida Investigation2025-07-11 12:02:51
- Coinbase Feeds Live Crypto Data Into Perplexity’s AI Search2025-07-11 10:00:21