2 hours ago
Multi-chain liquid staking protocol Meta Pool suffered a astute declaration exploit connected Tuesday, resulting successful the nonaccomplishment of $27 million.
Blockchain information steadfast PeckShield reported that a bug successful the protocol's staking declaration allowed users to freely mint mpETH, the protocol's liquid staking token (LST).
While an attacker managed to mint $27 cardinal worth of the tokens, a deficiency of liquidity connected Uniswap meant that they could lone swap 10 ETH worthy ($25,000).
An Etherscan transaction earlier the exploit took spot showed that an relationship labeled arsenic "MEV Frontrunner Yoink" removed 90 ETH worthy of liquidity from the pool.
Meta Pool is yet to station immoderate updates astir the exploit connected societal media. Total worth locked (TVL) for the task inactive stands astatine $75 million, according to DefiLlama, portion the protocol's MPDAO governance token trades astatine $0.02 connected minimal volume.
The exploit continues a inclination from May that saw investors suffer $302 cardinal to hacks, scams and exploits, according to CertiK.
Read more: Polyhedra Blames Liquidity Attacks for Sudden 80% Price Drop successful ZKJ, Promises Buyback
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