Harvest Finance DeFi Investors Risk $ 1 Billion in Assets
Protocol of Decentralized Finance (DeFi) Harvest Finance has gained significant popularity, and on October 21, the cost assets in him pools exceeded $ 1 billion. When this the creators of Harvest Finance have the tools, which in theory can allow them to withdraw custom assets. This is the conclusion reached by Haechi, which has audited the Harvest Finance contracts..
Auditor notes, that the principles for managing the protocol are vaguely defined at the contract level, and the administrator key, which is probably in the possession of the creators of the project, can used for the unlimited issue of FARM tokens. These tokens can be exchanged for assets in USDC stablecoin from the Uniswap pool, in the present time containing $ 22 million.
Besides Togo, Haechi states that, among other things, key holders can change the storage functionality in such a way as to move user assets to a third-party wallet. As a result users Harvest Finance may lose over $ 1 billion on top of $ 22 million from Uniswap pool.
Harvest Finance provides tools for automation profitable farming. The project supports pools based on Ethereum, Wrapped Bitcoin (BTC) and other assets, but the highest profitability is provided by staking the FARM token itself, which also acts as a factor in maintaining its value and carries additional risks.