A hacker managed to make money for just $132,000 due to an attack on the crypto protocol metapool, which created $27 million worth of tokens. The attacks were thwarted by low liquidity and exploited smart contracts.
Attackers were able to cast 9,705 liquids containing protocols Token META POOL said in a blog that MPETH is worth nearly $27 million, but has only managed to steal 52.5 Ether (ETH), a liquidity exchange pool worth more than $132,000. postal Tuesday.
It added that some affected pools have low mobility and volume, making it difficult to attack, and its “early detection system” helped its team pause the affected people quickly and quickly, it added. contractprevent “further unauthorized activities or other losses”.
Hackers take advantage of “Quick Delete”
In X postal On Tuesday, Meta Pool co-founder Claudio Cossio said hackers took advantage of the “fast cancel function” that allowed them to cast tens of thousands of Mpeth tokens.
Generally speaking, After unzipping the cryptocurrencythere is a waiting time to transfer. However, with the rapid disassembly (also known as Flash Unstaking), the waiting time turns white if certain conditions are met.
Blockchain security company Peckshield Posted X believes there is a “critical mistake” in signing a contract, which allows hackers to free mints, but “the low liquidity of MPeth limits profits.”
The Metapool team said the attack “involved unauthorized token minting through the ERC4626 Mint() function”.
Exploitors Displacement Pool
After the MPETH was created, exploiters used most of it to discharge 52.5 ETH swap pools, which affected several Ethereum mainnets and optimistic pools.
The Metapool team said the impacted optimistic pool was “low liquidity and quantity.”
“It is necessary to clear all Ethereum is secure, which is secure, and has been delegated to the SSV network operator, which is verifying the block and receiving points rewards within Ethereum,” the Meta Pool team said.
According to the META Pool Team, a full autopsy is expected to be conducted in the next two days and in the recovery plan. Meanwhile, the affected MPETH contract will remain suspended as the investigation continues.
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Meta Pool promises to “repay assets lost in this event” and ensures that users “make the whole”.
Crypto protocol hit by vulnerability
Alex protocol, Bitcoin decentralized financing platform on stack blockchain, Exploited on June 6in a self-column verification logic of a bad actor’s use defect, $8.3 million was lost, exhausting liquidity from several asset libraries.
Meanwhile, Taiwan-based cryptocurrency exchange Bitopro confirmed on June 2 Losses caused by security breaches On May 8, its hot wallet had assets of more than $11.5 million.
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