Flash

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<ul class="news-points"> 
 <li><strong>Zunami Protocol hit by a flash loan attack, losing over $2 million in ETH on August 13.</strong></li> 
 <li><strong>Attackers manipulated prices of key tokens, draining liquidity from UZD and zETH emissions, leading to the breach.</strong></li> 
 <li><strong>Zunami Protocol team plans fixes, audits, and collateral distribution to affected holders, aiming to regain trust in the aftermath of the breach.</strong></li> 
</ul> 
<p>In a recent incident, the Zunami Protocol fell victim to a <a href="https://coinedition.com/zunami-protocol-suffers-2-1m-loss-in-classic-price-manipulation/" rel="noopener noreferrer nofollow">flash loan attack</a> on August 13, 2023, resulting in a significant loss of 1,178 ETH, valued at approximately $2.16 million. The complex attack involved manipulating the price of StakeDAO (SDT) on Sushiswap, effectively disrupting the balance of UZD, Zunami’s stable token. The protocol released a Post Mortem of what happened exactly.</p> 
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   <p lang="en" dir="ltr">1/ Post Mortem – zStables Exploits.<br>TL;DR. During the night of August 13-14, Zunami was attacked, with over 2 million stolen from zStable Curve Pools. <br>Omnipool collateral is safe and will be distributed to holders prior to the hack. <br>Zunami V2, with fixes and audit, coming soon.</p>— Zunami Protocol (@ZunamiProtocol) <a href="https://twitter.com/ZunamiProtocol/status/1691525413619560448?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 15, 2023</a> 
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<p>According to the post mortem, the attackers also employed flash loans, a technique that allowed them …</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/zunami-protocols-post-mortem-reveals-flash-loan-attack-details/">Zunami Protocol’s Post Mortem Reveals Flash Loan Attack Details</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Zunami Protocol’s Post Mortem Reveals Flash Loan Attack Details

Coin Edition

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