Pike Finance clarifies ‘USDC vulnerability’ statement on $1.6M exploit

Pike highlighted that the exploit occurred due to their team’s inadequate integration of third-party technologies such as the CCTP or Gelato Network’s automation services.

“This exploit is related to the initial USDC vulnerability that was reported last week on the 26th of April.” “It is important to clarify that this vulnerability was previously identified by our auditing partner, OtterSec. Our developer team was unable to address the identified vulnerability in a timely manner.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Cointelegraph /  🏆 562. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ondo Finance Tests Near-Instant Conversions Between USDC and BlackRock's BUIDL TokenOndo Finance, a tokenized asset platform, successfully tested the ability to convert between Circle's USDC stablecoin and BlackRock's BUIDL token. An Ondo wallet redeemed $250,000 worth of BUIDL tokens for USDC, showcasing the USDC-to-BUIDL feature. This news caused ONDO token to surge by 8% before experiencing a slight correction.
Read more »