AvalancheThere was a “flash loan” attack on the network, the hacker who carried out the attack stole 370 thousand dollars.
AvalancheA smart contract vulnerability was exploited in a flash loan attack on the network.
Flash Loan Attack in Avalanche
Avalanche, which came to the fore with the statements of CryptoLeaks in the past weeks, now has a flash loan attack. Decentralized exchange Trader Joe, Nereus Finance and Curve Finance are thought to be affected by this attack. Details were shared in a Tweet. Attacker Avalanchetook place by exploiting a smart contract vulnerability in its network and the attacker tried to withdraw their money. Wrapped Avalancheused.
CertiK Skynet has reported a #flashloan attack on #AVAX impacting contract 0xe767c… & some LPs. The attacker profited ~$370k USDC.
Possible impacted protocols include:@nereusfinance @traderjoe_xyz @CurveFinance
Contact us for analysis.Stay Frosty!☃️ pic.twitter.com/bZvtgVPpl4
— CertiK Alert (@CertiKAlert) September 7, 2022
A flash loan attack is a smart contract security abuse event in which a malicious person borrows unsecured funds from the loan protocol and increases the value of a particular asset by manipulating its price.
Due to the nature of the instant loan, the attacker succeeds to arbitrage the asset and then profits from the difference and sells the borrowed capital back in the same transaction.
CertiK Ten chain security software from Skynet, which actively monitors and displays suspicious smart contract data online, has been caught by Skynet. The identity of the attacker is unknown, as in typical flash loan attacks.
