DeFi Protocol Li.Fi Hacked for $11 Million in Ethereum, Stablecoins

Cross-chain DeFi protocol Li.Fi is suspected to have lost about $11 million in cryptocurrencies in an exploit. The protocol provided the updated figure after blockchain security firm CertiK previously pointed to nearly $9 million earlier Tuesday.

A wallet linked to the suspected hack on Tuesday held nearly $6 million in Ethereum (ETH) along with various amounts of several stablecoins, according to CertiK. The exploit, which is still being investigated, appears to have targeted some Li.Fi users who manually adjusted the settings on their accounts, the protocol’s team said Tuesday in an X post. 

Li.Fi told Decrypt that users are no longer at risk and that the exploit had been "contained."

Source: https://decrypt.co/240190/bitcoin-bridge-telegram-linked-ton-blockchain