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Showing results for tags 'defi'.
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How to Revoke Ethereum or Binance Smart Chain Smart Contract Spending Allowances Many people are unaware that when you interact with defi applications/dapps you usually end up allowing the smart contract to have unlimited allowance of spending those tokens on specific smart contract. This is a dangerous practice and is extremely unsafe. This guide will work for both Ethereum and Binance Smart Chain To protect yourself better, simply find the token address of the specific token you want to deny spending of, in this example I will use the token BAKE https://bscscan.com/token/-
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Decentralized finance (DeFi) lending protocol Warp Finance has experienced a flash loan attack that resulted in a loss of $7.7 million worth of stablecoins. Warp said the attack essentially allowed one user to borrow more funds than their collateral value, resulting in a loss for other users or lenders. Flash loans allow users to borrow funds without collateralization, provided the funds are repaid within a single blockchain transaction. Warp did not immediately explain how the attack occurred or which stablecoins were lost, but Nick Chong of Hex Capital posted the flash loan transaction tha