Visor Finance Hacked, Loses Over $8M in Tokens
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Dec. 21, 2021
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Visor Finance, a decentralized finance (DeFi) ecosystem, lost 8.8 million VISR tokens as a result of the so-called reentrancy attack. According to reports, hackers have reportedly withdrew the tokens and sold them via Uniswap. Amid the news, VISR's price collapsed by 86% down to $0.065, according to Coinbase.

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Visor Finance Hacked, Loses Over $8M in Tokens

The protocol's developers wrote on Twitter they are aware of an exploit of the VISR staking contract and are implementing a "migration plan for affected VISR."

"No positions or hypervisor's are at risk," the team said, adding that it will restore all the affected VISR stakers.

Visor Finance is offers several modular components which allow non-custodial, active management of concentrated liquidity pools. Earlier this month, Grim Finance also suffered a hacker attack, losing $30 million in cryptocurrencies. The hackers have gained access to the project's wallet through a malicious token in a smart contract. It is still unknown what kind of token we are talking about.

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