<div class="sg-post-des">
  Blockchain security firm PeckShield estimates the protocol suffered more than $2.1 million from the price manipulation attack. 
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<div class="cointelegraph"> 
 <p>Decentralized finance protocol Zunami Protocol has confirmed it has encountered an <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> on its “zStables” <a rel="noopener noreferrer nofollow" title="stable" href="https://thebittimes.com/tag/stable.html">stable</a>coin <a rel="noopener noreferrer nofollow" title="pools" href="https://thebittimes.com/tag/pools.html">pools</a>.</p> 
 <p>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.</p> 
 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr">Hi @ZunamiProtocol Today's hack leads to &gt;$2.1m loss and there are two hack txs involved: <br>- tx1: https://t.co/jsOmPT62mk<br>- tx2: https://t.co/u7YOvoS0R9<br><br>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</p>— PeckShield Inc. (@peckshield) August 14, 2023 
 </blockquote> 
 <p>PeckShield detected the exploit on Curve on Aug. 13 at 10:47 UTC, which was confirmed by Zunami about 20 minutes later.</p> 
 <p>Zunami said that collateral in the pools remain secure and that the issue is now under investigation. </p> 
 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr">It appears that zStables have encountered an attack. The collateral remain secure, we delve into the ongoing investigation.</p>— Zunami Protocol (@ZunamiProtocol) August 13, 2023 
 </blockquote> 
 <p>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;</p> 
 <p>Zunami is a decentralized revenue aggregator protocol that allows users to stake <a rel="noopener noreferrer nofollow" title="stable" href="https://thebittimes.com/tag/stable.html">stable</a>coins for yield, with its largest <a rel="noopener noreferrer nofollow" title="stable" href="https://thebittimes.com/tag/stable.html">stable</a> <a rel="noopener noreferrer nofollow" title="pools" href="https://thebittimes.com/tag/pools.html">pools</a> situated on Curve. </p> 
 <p>Cointelegraph reached out to Zunami for comment but did not receive an immediate response.</p> 
 <p class="post-content__disclaimer">This is a developing story, and further information will be added as it becomes available. </p> 
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Zunami Protocol confirms stablecoin pools attacked, $2.1M loss estimated

TheBitTimes

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