Cryptocurrency
[loss] $2M+
"Zunami Protocol Loses Over $2.1 Million in Price Manipulation Hack"
Primary Source ↗Financial Loss
$2.1M
(2,100,000 USD)
Blockchain(s)
Ethereum
Incident Details
The Zunami Protocol stablecoin-focused yield farming aggregator was exploited for more than $2.1 million when an attacker was able to perform a price manipulation attack on the project’s primary pool. Zunami attracted users by promising “the highest APY on the market”: around 14%. The project had been audited by Ackee and HashEx.The attack was a “classic price manipulation” exploit, according to the Ironblocks security firm. The attacker was able to steal 1,152 ETH ($2.13 million) from the protocol. They then tumbled the stolen funds through Tornado Cash.
Total loss estimated at $2,100,000.
Technical Details
- Initial Attack Vector
- Flash loan attack on smart contract
- Vendor / Product
- Zunami Protocol
Timeline
- 2023-08-13 Breach occurred
- 2023-08-13 Publicly disclosed