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Tornado

<ul> 
 <li>Zunami Protocol endures a significant attack, losing over $2.1 million.</li> 
 <li>Hackers transfer the illicitly obtained funds to the privacy solution, Tornado Cash.</li> 
 <li>Slowmist had reportedly warned Zunami of such vulnerabilities two months prior.</li> 
</ul> 
<p>The DeFi sector, while promising, is not without its vulnerabilities. Zunami Protocol, a prominent DeFi yield aggregation platform, recently bore the brunt of this reality. It suffered a major attack through price manipulation, leading to a staggering loss of more than $2.1 million.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="zh" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f642.png" alt="🙂" class="wp-smiley" style="height: 1em; max-height: 1em;">这个项目被价格操纵攻击，损失超 210 万美金。关键点是，两个月前我们系统就扫到他们这个风险，提前就私下告知他们了，可惜那是一次不愉快的沟通…<br><br>现在看来，也许他们是可以避免的。 <a href="https://t.co/w4cPUVviZl" rel="noopener noreferrer nofollow">https://t.co/w4cPUVviZl</a></p>— Cos(余弦) 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f636-200d-1f32b-fe0f.png" alt="😶‍🌫️" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@evilcos) <a href="https://twitter.com/evilcos/status/1690894655150555136?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2023</a> 
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<p>The attackers didn’t stop at merely exploiting the protocol. They took the stolen funds and moved them to Tornado Cash, a privacy-focused Ethereum mixer that obscures transaction trails. This move further complicates the efforts to trace and potentially recover the stolen assets.</p> 
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   <p lang="en" dir="ltr">Hi <a href="https://twitter.com/ZunamiProtocol?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ZunamiProtocol</a> Today's hack leads to &gt;$2.1m loss and there are two hack txs involved: <br>– tx1: <a href="https://t.co/jsOmPT62mk" rel="noopener noreferrer nofollow">https://t.co/jsOmPT62mk</a><br>– tx2: <a href="https://t.co/u7YOvoS0R9" rel="noopener noreferrer nofollow">https://t.co/u7YOvoS0R9</a><br><br>It is a price manipulation issue, which can be exploited by donation to incorrectly calculate the price as shown in the… <a href="https://t.co/yqwMVy0pCA" rel="noopener noreferrer nofollow">https://t.co/yqwMVy0pCA</a> <a href="https://t.co/OfrDni7KtE" rel="noopener noreferrer nofollow">pic.twitter.com/OfrDni7KtE</a></p>— PeckShield Inc. (@peckshield) <a href="https://twitter.com/peckshield/status/1690877589005778945?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2023</a> 
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<p>What makes this incident even more noteworthy is the revelation by Slowmist, a security firm specializing in blockchain. According to their statement, they had identified and informed Zunami Protocol about this risk nearly two months ago. Had Zunami acted upon this information, this substantial loss might have been prevented.</p> 
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   <p lang="en" dir="ltr">Please do not buy zETH and UZD at the moment, their emission has been attacked.</p>— Zunami Protocol (@ZunamiProtocol) <a href="https://twitter.com/ZunamiProtocol/status/1690885809639948288?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2023</a> 
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<p>The DeFi ecosystem’s decentralized nature makes it a lucrative target for hackers, emphasizing the critical importance of continuous security assessments and timely actions on identified vulnerabilities. Zunami Protocol’s recent incident serves as a cautionary tale for other platforms within the space.</p> 
<p>For investors and users, such events underline the need for due diligence and the consideration of security measures when engaging with DeFi platforms. As the crypto industry continues to evolve, ensuring robust security protocols and heeding expert warnings will be paramount for platforms aiming to earn and maintain user trust.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/zunami-protocol-suffers-2-1-million-loss/">Zunami Protocol Suffers $2.1 Million Loss from Price Manipulation Attack</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Zunami Protocol Suffers $2.1 Million Loss from Price Manipulation Attack

Crypto News Land

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