In a tweet, Zhao said that the attackers were using the platform’s high Google ranking to push malicious links to unsuspecting users.
A decentralized stablecoin protocol, Resupply, which is connected to major DeFi players Convex Finance and Yearn Finance, has been the victim of a $9.5 million exploit. The attack was carried out by manipulating the exchange rate of the cvcrvUSD token in a low-liquidity market. Blockchain security firms, including BlockSec Phalcon and CertiK, have reported on the attack, which involved the hacker artificially inflating the token’s price through targeted “donations” and using a flashloan to initiate the exploit. The attacker was able to bypass solvency checks and borrow nearly $10 million worth of reUSD tokens with minimal collateral. They then quickly swapped the tokens for USDC and WETH, generating a profit of $9.5 million. The hacker used a mixer and Tornado Cash for anonymity before depositing the funds into the exploit contract. Resupply has confirmed the breach and has paused the affected market, but other operations will continue as normal. This attack follows a pattern of recent exploits in the crypto space, including the $49 million breach of Iranian exchange Nobitex and the $223 million exploit of DEX Cetus. In addition, attackers are targeting trusted crypto information platforms, such as CoinMarketCap, to push malicious links to unsuspecting users.
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