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Seneca Protocol hack highlights dangers of Ethereum’s token approval mechanism
Protos protos.com
A bug in crypto lending platform Seneca Protocol was exploited on Wednesday to steal funds directly from users’ wallets. Losses so far exceed $3 million on the Ethereum and Arbitrum networks. Seneca is a decentralized finance (DeFi) project that allows users to borrow the stablecoin senUSD against yield-bearing assets such as deposit tokens and liquid […]
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