Bitcoin

<ul><li>Zunami Protocol is hit with a $2.1M price manipulation attack.</li><li>DeFi&#39;s Zunami sees UZD stablecoin value nosedive to a mere $0.009.</li><li>Security firms PeckShield and Ironblocks confirm Zunami&#39;s massive loss.</li></ul>CoinGecko, a crypto data aggregator, revealed a staggering drop in Zunami Protocol&#39;s stablecoin, $UZD, following an alleged price manipulation attack. The decentralized finance platform has reportedly lost over $2.1 million, causing the price of Zunami USD to plummet by 99.1% to $0.009.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/b7fc945dc55f4467bf6fc4aa5d3fe906.png" />Zunami Protocol, a prominent DeFi platform, recently encountered a significant breach. As a result, the protocol has <a href="https://twitter.com/ZunamiProtocol/status/1690885809639948288?s&#61;20" rel="noopener noreferrer nofollow">urged</a> its users to refrain from purchasing any of its Zunami Ether (zETH) or Zunami USD (UZD) stablecoins. This advisory came after an attack on its &#34;zStables&#34; pools on Curve Finance was detected.The platform confirmed the assault on its stablecoin pools, assuring users that the collateral was intact as they conducted a comprehensive investigation into the potential exploit. The breach has primarily impacted the Zunami USD stablecoin and Zunami Ether.Blockchain security behemoth PeckShield quickly detected the attack, estimating a theft of over $2.1 million from Zunami&#39;s Curve Pool. The analysis suggested that the root cause was a price manipulation issue. This sentiment was echoed by <a href="https://twitter.com/Ironblocks_/status/1690869728204533760?s&#61;20" rel="noopener noreferrer nofollow">Ironblocks</a>, another blockchain security firm, which concurred with PeckShield&#39;s estimates.Read full article at <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">C</a><a href="https://cryptotale.org/massive-2-1m-exploit-hits-zunami-tanking-uzd-value-99-1/" rel="noopener noreferrer nofollow">ryptoTale.</a>

Massive $2.1M Exploit Hits Zunami, Tanking UZD Value 99.1%

CryptoTale

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