Visor Financial hacked again, losing more than $ 8.2 million

Visor Finance, the DeFi-based liquidator based on Uniswap V3, was redesigned by hackers, who used the re-access vulnerability to remove 8.8 million VISR tokens. $ 8.2 million.

The VIDEB panel that it will start migration of kunior to pay for the relevant users.

Easy re-entry can be lethal in DeFi as it creates a way for an attacker to leave tokens unrestricted. The full report has not yet been released, but it is believed that this vulnerability was used by hackers to change the owner of the reward agreement so that they can advertise additional vVISR gift tokens.

Visor Group today reported the details of the protest and noted that they had found a negative impact on the vVISR contract. The team added that none of the operations or management procedures were at risk.

This incident has often affected VISR's warranties and insurers as VISR has lost over 95% since the strike and only cost $ 0.06 per release.

In order to reward users, the Visor team announced that they would set an immigration date based on snapshots taken before the hacker attack. Token migration is a popular strategy to overcome DeFi hacker attacks. They work by allowing token holders to exchange the equivalent of new tokens depending on the tokens they have held. In this case, you can reimburse according to the cost of the VISR you have available.

Visor is based on Uniswap V3 and aims to develop a way to improve returns for businesses and financial service providers. Users can deposit their assets into the museum in exchange for NFT, and the assets are managed by a trustee and another smart entrepreneur called a custodian.

Visor raised $ 3.5 million in July from major players such as 1confirmation, Digital Currency Group, DeFi Alliance and Spartan.

Although Visor has received a lot of attention since its release, its performance has not been particularly good. I have been hacked several times this year. A recent report from BiTweet reported that $ 500,000 was lost in June of this year due to inconsistencies in the Visor contract.

According to ETHerscan data, hackers exchanged most of their VISR tokens for ETH through Uniswap and started sending money through Tornado.Cash. However, due to the lack of capital token, its value fell, the final value being less than $ 8.2 million. At the time of going to press, $ 978,561 of ETH had been surrendered, of which approximately 3.6 million VISR and 0.475 ETH were in the wallet for a total cost of $ 135,000.