LI.FI Protocol Exploit: $8M Theft Dominated by ETH and Stablecoins

The decentralized finance (DeFi) platform LI.FI protocol has experienced a significant exploit resulting in over $8 million in losses. Suspicious activities in the LI.FI cross-chain transaction aggregator were detected by Cyvers Alerts. LI.FI has warned users against utilizing its applications until the issue is resolved, underscoring the need to revoke specific token approvals. Breaking news:

Source: CoinOtag