According to Wu Blockchain, DeFi player YAM has revealed that hackers are exploiting the one-stop DeFi protocol Merkl to create unverified activities and scam users into depositing funds. Recently, hackers created triple-digit APR incentives on Sonic to lure users into depositing USDC into the Euler Vault, only to drain all deposits afterward. Since Euler is permissionless, hackers were able to deploy 'fake' markets, manipulate oracle prices, and then create an unverified fake activity on Merkl to attract user deposits, subsequently transferring the funds. This scam has already resulted in losses exceeding $145,000. Although both Merkl and Euler clearly label activities/markets as unverified, YAM has called for increased difficulty in depositing into such unverified activities and the addition of more pop-up warnings. http://(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=50985