yearn.finance is a project that has become one of the main players in the developing space of decentralized finance (DeFi). The goal of the project is to make investing in decentralized financial instruments and farming more accessible.

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As previously pointed out, the root cause of this morning's iEarn exploit was a bug in the legacy iEarn USDT (yUSDT) token contract.

This bug persisted in several versions and led to multiple Curve pools (y, busd, pax) being exploited and drained. Liquidity providers who deposited their LP tokens into downstream protocols are still impacted.

This includes users of the Yearn v2 vaults (2) and legacy v1 vaults (2) which wrapped these affected LPs.