$ETH SHOCKER: $4.1M VANISHES IN DEFI EXPLOIT
Entry: 1299 ETH 🟩
Target 1: 4.1M USD 🎯
Stop Loss: 0 ETH 🛑
Makina Finance just got hammered. Hackers manipulated DUSD-USDC liquidity. They stole 1299 ETH, worth $4.1M. A MEV builder frontran the attack. This complicates recovery for the revenue management protocol. PeckShield detected the exploit at 03:40:35 UTC. The attacker split the stolen ETH into two wallets. They converted it to ETH. These wallets now hold the assets. The attacker used a $280M flash loan. They manipulated the MachineShareOracle. This oracle sets the price for Dialectic USD and Dialectic USDC. They artificially inflated the pool price. Then they traded $110M USDC. They drained 1299 ETH. Then repaid the flash loan. PeckShield confirmed a price manipulation vulnerability. The attacker added liquidity before the price hike. They withdrew liquidity with profit. A MEV builder address frontran the transaction. They seized about $4.14M. The stolen ETH is in two wallets. One holds $3.3M. The other holds $880K. Makina activated security mode. They advise DUSD Curve liquidity providers to withdraw funds. Only the DUSD Curve pool was affected. Other assets are safe. Security firms urge revoking smart contract permissions. Avoid Makina contracts. Flash loan exploits are still frequent. Bunni lost $8.4M. Shibarium lost $2.4M. DeFi hacks are contained. Total crypto theft reached $3.4B. Focus shifted from DeFi to CEXs and wallets.
Disclaimer: Past performance is not indicative of future results.
#ETH #DeFi #Hack #Crypto #Trading 🚀
