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TechFlow, December 28 — The token of Cover Protocol, a DeFi insurance protocol led by YFI founder Andre Cronje (AC), dropped 50%, hitting a low of $212 and currently trading at $270. According to TechFlow, Cover Protocol appears to have been attacked. An attacker allegedly minted a large number of Cover tokens out of thin air and then sold them all on 1inch for cash, having already liquidated 11,761 tokens.
According to TechFlow, Cover Protocol appears to have been attacked, with someone minting a large number of COVER tokens out of thin air and subsequently selling all of them on 1inch for cash. So far, 11,761 tokens have been cashed out.
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