The exploiter manipulated the exchange rate of the plvGLP token to make it 83% more valuable.
Lodestar Finance, a lending platform on Ethereum scaling-solution suite Arbitrum, was attacked and exploited for about $6.5 million.on Dec. 10 at 4:14 p.m. ET, while also declaring that it"set all interest rates to zero so that supply and borrow balances are not moving while we weigh recovery options."
The exploiter was able to successfully manipulate the exchange rate of the plvGLP token to 1.83 GLP per plvGLP — making it 83% more valuable than it should have been. Using the inflated tokens as collateral, the exploiter could then remove all available liquidity on Lodestar Finance through bad debt.Other holders of plvGLP were able to use the exploiter's actions to their advantage by cashing out 1.83 GLP per plvGLP, Lodestar Finance noted.
According to the lending platform, 2.8 million GLP — worth $2.4 million at the time — can be recovered. It is also attempting to negotiate with the exploiter. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.By signing-up you agree to our
Wait what? Exploit 6.5 Mio.
The sound must be louder.
Are you on their payroll?
เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:
ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว
Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้
Helping Ukraine is 'self-preservation,' finance chief saysUkraine's finance minister says crucial Western financial support is “not charity” but “self-preservation” in the fight to defend democracy as his country deals with growing costs to repair electrical and heating infrastructure wrecked by Russian attacks. Sure it is. Anybody tracking where billions upon billions is going? Arms dealers getting pockets lined. Keep the money in house. The tax payers do not want to fund a war! Helping others has been twisted into a bad thing. We can afford to help , we could just take the money from the pentagon, like we did to try the wall thing.
แหล่ง: wjxt4 - 🏆 246. / 63 อ่านเพิ่มเติม »
Helping Ukraine is 'self-preservation,' finance chief saysUkraine's finance minister says crucial Western financial support is “not charity” but “self-preservation” in the fight to defend democracy as his country deals with growing costs to repair electrical and heating infrastructure wrecked by Russian attacks. Serhiy Marchenko also told The Associated Press in an interview Thursday from Kyiv that he believes European Union officials will sort out a dispute with Hungary that has blocked a key 18 billion-euro ($18.97 billion) aid package and would cover much of Ukraine's looming budget gap. Marchenko said financial support for Ukraine is tiny compared to what developed countries spent to combat emergencies like the global financial crisis of 2008 and the COVID-19 pandemic. The Ukrainian hierarchy need to stay comfortable...After all, it's FREE money in their pockets!
แหล่ง: YahooNews - 🏆 380. / 59 อ่านเพิ่มเติม »
US regulator seeks feedback on DeFi’s impact on financial crime: Finance RedefinedThe DeFi market had a volatile week, with several tokens in the top 100 trading in the green while many others posted a net loss on the weekly charts. $FET 🤑🚀🚀🚀🚀🤫Fetch_ai web3 ai US regulators are seeking feedback on the financial crimes associated with DeFi. What do you think they will find? Ethereum developers are targeting the end of March for the Shanghai hard fork. Are you ready for the upgrade?
แหล่ง: Cointelegraph - 🏆 562. / 51 อ่านเพิ่มเติม »
Helping Ukraine is ‘self-preservation,’ finance chief saysUkraine's finance minister says crucial Western financial support is 'not charity' but 'self-preservation' in the fight to defend democracy as his country deals with growing costs to repair electrical and heating infrastructure wrecked by Russian attacks. I wonder why US arms to Ukraine are being sold in Africa? How about an audit of just WHERE the US money & other aid is actually going? Cos it looks like US has spent almost $100 billion to set up a new Hitler! Opposition arrested, media shut or taken over - can we spell Fascist?
แหล่ง: WashTimes - 🏆 235. / 63 อ่านเพิ่มเติม »
Brazil's Lula names ex-Sao Paulo mayor Haddad as finance ministerBrazil's leftist President-elect Luiz Inacio Lula da Silva on Friday picked a trusted ally, former Sao Paulo Mayor Fernando Haddad, as his finance minister, ending days of speculation over a key appointment. Brazil is number 1 in murders. Check Wikipedia. e a foto nem tem lula nem haddad
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »
Cost of Pennsylvania governor’s race sets new record amid ‘campaign finance arms race’The $100 million total price tag, more than half of which was spent by Democratic Gov.-elect Josh Shapiro, underscores the state’s notoriously weak campaign finance laws. And he’ll raise everyone’s taxes congrats Why did he spend so much? Does he want the office to steal more money? Maybe there is gold under that office building? WHAT A DEAD BEAT! HE LET THE BIG BAD WOLF WALK ALL OVER PENNSYLVANIANS....AND NEVER SAID A WORD. AND NOW HE'S GOVERNOR? WHAT A JOKE!!!!!
แหล่ง: PhillyDailyNews - 🏆 89. / 67 อ่านเพิ่มเติม »