Inverse Finance Drained for $1.2 Million in a Flash Loan Attack

DeFi protocol Inverse Finance suffered a flash loan exploit. The hacker made off with $1.2 million in crypto assets. The unknown perpetrator carried out the exploit using a flash loan using 27,000 wrapped bitcoin (worth about $579 million) at around 4:47 a.m. ET, according to on-chain data. The exploited funds included 53 $BTC and 100,000 $USDT.