The developers of the decentralized financial options (DeFi) protocol Primitive, a protocol built on top of the Ethereum blockchain, have 'hand-hacked' their platform after discovering a exploit. serious today.

“EMERGENCY WARNING @PrimitiveFi hacked the contract itself to protect user funds after discovering a critical vulnerability. More user action is needed to protect funds,” Primitive tweeted today.

According to the blog post, a serious attack has been discovered in several Primitive smart contracts that allow for "infinite approvals". As a result, all users who granted the vulnerable contract the right to use their tokens are at risk of losing their funds.

Since there is no way to upgrade or suspend these contracts, the developers of the platform decided to hack their own platform.

Although we reused (sic) 98% of the funds, TOKENS IN WALLET approved vulnerable contract STILL RISK, [link] will protect funds by placing each approval token of you to 0. An investigation and next steps to get your money back

However, users who allowed faulty smart contracts to use their assets could still lose assets held in their wallets, the developers emphasized. To protect them, affected users need to reset their token approvals through a special page.

At press time, there are no reports of actual property damage exploited by the bad guys.