<div class="sg-post-des"> Blockchain security firm PeckShield estimates the protocol suffered more than $2.1 million from the price manipulation attack.
</div><div class="cointelegraph">Decentralized finance protocol Zunami Protocol has confirmed it has encountered an <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/attack.html">attack</a> on its “zStables” <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/stable.html">stable</a>coin <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/pools.html">pools</a>.Blockchain security firm PeckShield estimates over $2.1 million was stolen from Zumani’s Curve Pool on Aug. 13, pegging the exploit to a price manipulation issue.&nbsp;Fellow blockchain security firm Ironblocks arrived at a similar figure.<blockquote class="twitter-tweet">Hi @ZunamiProtocol Today's hack leads to &gt;$2.1m loss and there are two hack txs involved: - tx1: https://t.co/jsOmPT62mk - tx2: https://t.co/u7YOvoS0R9 It is a price manipulation issue, which can be exploited by donation to incorrectly calculate the price as shown in the… https://t.co/yqwMVy0pCA pic.twitter.com/OfrDni7KtE— PeckShield Inc. (@peckshield) August 14, 2023 </blockquote>PeckShield detected the exploit on Curve on Aug. 13 at 10:47 UTC, which was confirmed by Zunami about 20 minutes later.Zunami said that collateral in the pools remain secure and that the issue is now under investigation.<blockquote class="twitter-tweet">It appears that zStables have encountered an attack. The collateral remain secure, we delve into the ongoing investigation.— Zunami Protocol (@ZunamiProtocol) August 13, 2023 </blockquote>It is currently&nbsp;believed&nbsp;a flash loan price manipulation attack has taken place, with&nbsp;Zunami USD and Zunami ETH pools&nbsp;impacted.&nbsp;Zunami is a decentralized revenue aggregator protocol that allows users to stake <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/stable.html">stable</a>coins for yield, with its largest <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/stable.html">stable</a><a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/pools.html">pools</a> situated on Curve.Cointelegraph reached out to Zunami for comment but did not receive an immediate response.This is a developing story, and further information will be added as it becomes available.</div>

Zunami Protocol confirms stablecoin pools attacked, $2.1M loss estimated

TheBitTimes

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