Euler Finance was hit by a flash loan attack, losing over $195 million in stablecoins and synthetic ERC-20 tokens.
13 Mar 2023, 17:03
😱 Euler Finance was hit by a flash loan attack, losing over $195 million in stablecoins and synthetic ERC-20 tokens.
🚨 The attacker used a multichain bridge to transfer funds from BSC to Ethereum and successfully exploited two factors to execute multiple transactions.
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13 Mar 2023, 17:08
😱Euler Finance was hit by a flash loan attack, losing over $195 million in stablecoins and synthetic ERC-20 tokens.
🚨 The attacker used a multichain bridge to transfer funds from BSC to Ethereum and successfully exploited two factors to execute multiple transactions.
By depositing funds and triggering liquidation, the attacker successfully exploited a weakness in Euler Finance’s soft liquidation logic.
While stolen funds remain in hacker addresses, Euler Finance is working with law enforcement to resolve the issue.
🛡We offer coverage to protect users from flash loan attacks and mitigate risks when interacting with DeFi protocols that may be vulnerable to hacks or malicious activities.
This coverage aims to prevent future incidents like the flash loan attack on Euler Finance.
Euler Finance was hit by a flash loan attack, losing over $195 million in stablecoins and synthetic ERC-20 tokens.
😱Euler Finance was hit by a flash loan attack, losing over $195 million in stablecoins and synthetic ERC-20 tokens.
🚨 The attacker used a multichain bridge to transfer funds from BSC to Ethereum and successfully exploited two factors to execute multiple transactions.
By depositing funds and triggering liquidation, the attacker successfully exploited a weakness in Euler Finance’s soft liquidation logic.
While stolen funds remain in hacker addresses, Euler Finance is working with law enforcement to resolve the issue.
🛡We offer coverage to protect users from flash loan attacks and mitigate risks when interacting with DeFi protocols that may be vulnerable to hacks or malicious activities.
This coverage aims to prevent future incidents like the flash loan attack on Euler Finance.
https://twitter.com/Bridge_Mutual/status/1635325600490729472?t=YZAbihq4QEGU4qLWKm50OQ&s=19