Euler Finance hacked for over $195M in a flash loan attack
Euler Finance became the victim of a flash loan attack where the exploiter managed to drain hundreds of millions worth of decentralized stablecoins and synthetic ERC-20 tokens.
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Euler Finance became the victim of a flash loan attack where the exploiter managed to drain hundreds of millions worth of decentralized stablecoins and synthetic ERC-20 tokens.
Blockchain transaction history shows that the hacker transferred the funds onto a DEX and then went on to cycle funds around different DeFi protocols.
The misordered lines caused a solvency check to be performed before the user’s amount, factor and rewardDebt had been set to zero.
DeFi market saw another exploit this past week on the Platypus protocol, resulting in a loss of over $8 million.