Yearn Finance Suffers 63% Treasury Loss Due to Multisig Script Error
- Loss Overview: On December 11, 2023, Yearn Finance experienced a 63% loss in its treasury due to a faulty multisig script affecting its lp-yCRVv2 pool, highlighting vulnerabilities in decentralized finance protocols that could impact future market confidence.
- Customer Fund Safety: The loss was confined to Yearn's protocol-owned liquidity and did not affect customer funds, demonstrating effective crisis management, while the company has requested arbitrageurs to return tokens to mitigate the loss.
- Enhanced Security Measures: Yearn Finance has implemented new measures, including pool segregation and enhanced checks, to prevent future errors, indicating a strong commitment to improving operational safety.
- Industry Reflection and Innovation: This incident parallels the 2016 DAO exploit and Yearn's earlier vault exploit, with experts noting that such failures spur innovation, driving improvements in protocol security to restore market confidence.
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Technical Analysis for SAFE
Technical Sentiment Analysis for Safe (SAFE) As of , Safe (SAFE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SAFE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SAFE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Safe (SAFE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0454 | 0.0674 | 0.0891 | 0.111 | 0.133 | 0.155 | 0.176 |
| Fibonacci | 0.0674 | 0.0841 | 0.0944 | 0.111 | 0.128 | 0.138 | 0.155 |
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