Flash Loan Attacks Repeatedly Succeed, DeFi Loses Over $16 Million in a Week

Hackers used flash loans to extract $16.4 million in ETH and DAI from DeFi projects Akropolis, Value DeFi Protocol, and Origin Protocol. The attacker in the Value DeFi attack exchanged ETH obtained through flash loans for DAI and USDT, depositing some DAI into Value DeFi's multi-stablecoin yield farming pool.