Posted 12/14/2023, 12:10:17 AM
Yearn Finance Loses $1.4 Million in Protocol Liquidity After Coding Error Leads to Slippage on CowSwap
- Yearn.finance lost $1.4M from its treasury due to a faulty multisig script
- The error occurred while converting yVault LP tokens into stablecoins on CowSwap
- Yearn suffered significant slippage, resulting in a 63% fall in liquidity pool value
- The affected tokens were protocol-owned liquidity, not customer funds
- Yearn is asking profitable arbitrage traders to return some of the funds