DeFi Protocol LI.FI Hit by $8M Exploit Following Suspicious Withdrawals

The LI.FI protocol, a decentralized finance platform, has suffered an $8 million exploit resulting in suspicious withdrawals. Users are advised not to interact with any LI.FI powered applications while the potential exploit is being investigated. The stolen funds include 1,715 ether worth $5.8 million and stablecoins USDC, USDT, and DAI. Crypto security firm Decurity has identified the exploit as involving the LI.FI bridge and attributed it to an arbitrary call with user-controlled data.