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Yearn Finance Recovers $2.4M After $9M Exploit Stemming from Arithmetic Flaw
Yearn Finance has recovered approximately $2.4 million following a Sunday exploit that drained roughly $9 million from its yETH pools. An attacker exploited an unchecked arithmetic vulnerability to mint an excessive quantity of yETH tokens, enabling liquidity extraction from the protocol's Curve-based stableswap pools. Recovery efforts remain ongoing, with collaboration from security firms SEAL 911 and ChainSecurity.
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Bank of Israel Intensifies Stablecoin Regulation as Digital Shekel Development Accelerates
The Bank of Israel announced enhanced regulatory oversight of stablecoins, with Governor Amir Yaron identifying them as a systemic force in global finance. The move came during a Tel Aviv conference where officials presented an updated timeline for the country's central bank digital currency project. The sector has reached a market capitalization exceeding $300 billion with monthly transaction volumes surpassing $2 trillion, according to Yaron.
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