Defi Protocol EasyFi Hacked, Loses 80m Dollars

EasyFi, which is a decentralized finance (DeFi) powered by the Polygon Network protocol, has reported suffering a hack of over $80 million on Monday. A blog post from the company reveals that private keys to the project’s admin account were compromised.

A blog post by the COO and cofounder Ankit Gaur mentioned that 2.98 million EASY tokens were transferred out. At the time of the hack, each token was worth around $25 and the total hack amounted to $75 million.

Apart from this the hacker was also able to remove $6m from liquidity pools in U.S dollars, dai and tether.

Gaur wrote that the private keys to the MetaMask account of the admin were compromised. He also offered $1m to the hacker for returning the funds in full.

It is worth noting that the hack was possible because of the private keys of the main admin wallet being compromised. It remains to be investigated how this was achieved and if the entire hack was carried out through online means alone.