Conic Finance suffers $4M in hacks, loses $100M in total value locked!

The post Conic Finance suffers $4M in hacks, loses $100M in total value locked! appeared first on Coinpedia Fintech News

Conic Finance, a decentralized finance (DeFi) protocol, has suffered two hacks resulting in the loss of $4 million and a reduction of $100 million in total value locked. This has caused the total value locked in the platform to decrease to less than $45 million from over $150 million before the hacks. While auditing firm, PeckShield, claimed that one of the exploits was not included in their audit, Conic disputed this in a postmortem. It remains to be seen if Conic can recover from these setbacks and regain users’ trust in its security measures.