When they trusted this DeFi dev, numerous yield farmers lost more than they haggled for
Yield farmers looking for a fast earnings were just recently taken in by a suspicious DeFi procedure called UniCats– a yield farming plan reminiscent of other, more well-known procedures like SushiSwap or Yam Finance.According to ZenGo scientist Alex Manuskin, at least one of its users lost more than $140,000 worth of Uniswap’s UNI tokens even after they eliminated their funds from the procedure. Other users lost about$ 50,000 more, Manuskin informed Cointelegraph.The users fell victim to an unsafe practice typically seen in DeFi, where most procedures will ask for the permission to withdraw unrestricted quantities of a specific token from the consumer’s wallet.”The UniCats agreement included a tricky “setGovernance “function that lets its owner call any function in the name of the agreement.
