Arbitrum-based Rodeo Finance exploited for second time, $1.5M stolen

Arbitrum-based decentralized finance protocol Rodeo Finance was exploited for $1.53 million on July 11. The DeFi protocol was exploited using a code vulnerability in its Oracle, leading to a loss of over 810 Ether .

According to data shared by blockchain analytic firm PeckShield, the exploiter later bridged the stolen funds from Arbitrum to Ethereum and swapped 285 ETH for unshETH. The exploiter then deposited the ETH on Eth2 staking. Finally, the exploiter routed the stolen ETH using the popular mixer service Tornado Cash, which exploiters often use as an exit route to obscure the transaction’s footprint.

However, it offers a vulnerability for exploiters to manipulate these oracles by artificially skewing the calculated average price of an asset. This allows them to gain the upper hand and exploit the protocol during a transaction. An exploiter first borrows a large sum of an asset and then artificially manipulates the price to buy the same asset at a deflated price. Later, the exploiter returns the loan and makes a profit based on the low price managed by manipulations.

According to data shared by blockchain analytic firm peckshield, the exploiter later bridged the stolen funds from Arbitrum to Ethereum and swapped 285 ETH for unshETH. The exploiter then deposited the ETH on Eth2 staking.

الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Arbitrum-based Rodeo Finance loses $1.5 million in latest DeFi exploitThe Rodeo hacker moved the stolen funds from Arbitrum to Ethereum and routed these through Tornado Cash to obfuscate the fund’s trail.
مصدر: TheBlock__ - 🏆 464. / 53 اقرأ أكثر »

Turkey aims to ensure fiscal discipline and lower budget deficit, finance minister saysTurkey is taking measures to re-establish fiscal discipline and control the level of the budget deficit, Finance Minister Mehmet Simsek said on Sunday.
مصدر: Reuters - 🏆 2. / 97 اقرأ أكثر »

China’s Finance Ministry calls on US to take practical actions over economic sanctionsOn US Treasury Secretary Janet Yellen's visit, China’s Finance Ministry said in a statement, urged the US to take practical actions in response to Chi
مصدر: FXStreetNews - 🏆 14. / 72 اقرأ أكثر »

DeFi protocol Arcadia Finance hacked on Ethereum and Optimism for $455kWhile the investigations are underway, Arcadia’s code houses another vulnerability, which could prove catastrophic for the protocol if exploited. PeckShield reveals the cause of Arcadia Finance hack. The code did not validate untrusted inputs. Hacker drained $455K from darcWETH and darcUSDC vaults.
مصدر: Cointelegraph - 🏆 562. / 51 اقرأ أكثر »

Arcadia Finance hacker used reentrancy exploit, team demands return of fundsArcadia Finance: Untrusted input was not the “core issue” in the recent hack; police will be notified if the attacker does not return funds.
مصدر: Cointelegraph - 🏆 562. / 51 اقرأ أكثر »