Cryptocurrencies
DeFi Platform’s Mistaken Token Giveaway Climbs to $160 Million
- Compound software bug sent additional tokens to users
- DeFi platform allows users to lend crypto and earn interest
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One of the crypto industry’s largest-ever loss of funds through an automated decentralized finance protocol miscue appears to be bigger than initially realized.
After a glitch in the so-called DeFi lending platform Compound led to nearly $90 million in mistaken rewards being distributed last week, Compound Labs’ founder and Chief Executive Officer Robert Leshner said millions more are at risk.