It looks like hacks and attacks on decentralized finance [DeFi] platforms were carried into 2023. While the year started off on a good note, rumors about the prominent DeFi platform Tender.fi began surfacing. However, a majority of them believe that this was done by a white hat hacker. But it made no difference to the firm’s native token, TND, which took a huge hit.
“We are investigating an unusual amount of borrows that came through the protocol- in the meantime, we have paused all borrowing. Thank you for your patience.”
Lookonchain shared a tweet suggesting that this was mostly because of a misconfigured pricing oracle. The network believes that a white hat hacker borrowed $1.59 million in assets from the DeFi firm while depositing only 1 GMX token which is worth $71.
The hacker also sent a message to Tender.fi which read, “it looks like your oracle was misconfigured. contact me to sort this out.“
It seems like Tender.fi’s funds were in safe hands, however, a bounty could be on the hacker’s mind.
Sellers start crowding Tender.fi’s TND market
The DeFi token was trading for a high of $3.79 earlier today and plummeted to a low of $1.75 in no time. At press time, the asset witnessed some recovery which pushed the token back to $2.50. Nevertheless, the sellers had entered the market.
As seen in the above chart, TND dipped by 33% over the last 24 hours. The Relative Strength Index [RSI] indicator revealed that the asset was entering the seller’s zone after residing in the buyer’s arena throughout the last couple of days.