Hackers have attacked the decentralized finance (DeFi) protocols Agave and Hundred Finance using a re-entrancy and flash loans exploit on the Gnosis Chain network.
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As a result of the hack, Agave has suspended its contracts.
In total, the attackers have reportedly managed to steal around $11 million worth of wETH, wBTC, LINK, USDC, wXDAI and GNO tokens.
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Moreover, they have already started laundering the stolen funds through the Tornado Cash service.
It is worth noting the decentralized finance sector has suffered another hack recently. In particular, DeFi protocol Deus Finance DAO has recently been attacked by hackers who also took advantage of flash loans to perform the hack.