Polter Finance kicks off recovery efforts following $12m flash loan attack
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Nov 18 2024Polter Finance Attack: DeFi lending platform Polter Finance is attempting to recover $12 million lost in a flash loan attack that exploited a faulty oracle, collaborating with white hat hackers and offering the attacker a bounty for the return of funds.
Impact on Protocol: Following the exploit, Polter Finance's native token POLTER has dropped over 85%, and the total value locked in the protocol has significantly decreased from nearly $10 million to just over $61,000.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
