Belt Finance loses millions in latest BSC-based DeFi exploit By Cointelegraph

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Belt Finance loses millions in latest BSC-based DeFi exploit

Belt Finance has become the latest Binance Smart Chain-based decentralized finance protocol to lose millions to an opportunistic hacker.

The Rekt Blog, which writes postmortems of DeFi exploits, stated that an attacker exploited a flaw in the way the protocol’s vaults calculate the value of its collateral, which helped to “add another notch to the now infamous flash loan exploit season on the BSC,” adding: