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$ 68.372
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Zunami Protocol Hit by $2.1 Million Price Manipulation Hack!

zunami protocol hack

One of the most common incidents these days is hacking attacks. Just a few days after the Curve attack, there was news of an hack attack from Zunami Protocol. Although not as severe as the Curve attack, Zunami users are currently in a state of considerable uncertainty.

According to the security firm PeckShield, the DeFi yield aggregator Zunami Protocol has suffered an hack attack that will result in losses exceeding $2.1 million.

On Monday morning, PeckShield disclosed an assault involving two big transactions. PeckShield reported that the hacking of funds from Zunami Protocol occurred through the mixing service Tornado Cash.

Following PeckShield’s warning, the Protocol stated, “zStables seems to have faced an attack.”‘ However, they added that the collateral is safe and the team has started investigating.

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Zunami Protocol Price Manipulation Attack

In a tweet, the security company pointed out that the Zunami Protocol hack exploited a price manipulation issue, which could be further leveraged through donations to inaccurately calculate the price.

Xian Yu, the founder of SlowMist, said today that their firm detected the security vulnerability two months ago. This project fell victim to price manipulation attacks, suffering losses exceeding $2.1 million. Yu, also known as Cos, emphasized, “What’s crucial is our system identifying this risk two months ago and them informing us proactively.”

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