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Home » Zunami Protocol Lost $2.1 Million To A Hacking Attack

Zunami Protocol Lost $2.1 Million To A Hacking Attack

Hania by Hania
August 14, 2023
in Altcoin News
Reading Time: 2 mins read
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BNB Hacker Loses More Than 53 Million Dollars After Liquidation Occurs
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Zunami Protocol suffered from a $2.1 million loss caused by an attack on their zStables pools. The company assures the safety of the collateral.

PeckShield, a blockchain security company, identified the hack on August 13. The company reported a loss of around $2.1 million.

Hi @ZunamiProtocol Today's hack leads to >$2.1m loss and there are two hack txs involved:
– tx1: https://t.co/jsOmPT62mk
– tx2: https://t.co/u7YOvoS0R9

It is a price manipulation issue, which can be exploited by donation to incorrectly calculate the price as shown in the… https://t.co/yqwMVy0pCA pic.twitter.com/OfrDni7KtE

— PeckShield Inc. (@peckshield) August 14, 2023

Twenty minutes after the attack, Zunami confirmed it. USD stablecoins, Zunamis stablecoins, and Zunami Ether were all impacted by the attack.

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It appears that zStables have encountered an attack. The collateral remain secure, we delve into the ongoing investigation.

— Zunami Protocol (@ZunamiProtocol) August 13, 2023

Protocol for Defi Zunami is a stablecoin staking yield farming aggregator. The company owns a DAO that guarantees market-leading APY returns for stakes. According to their official website, Zunami has a total TVL of 5 million.

Zunami Protocol Lost $2.1 Million To A Hacking Attack

The number of hacks and cyberattacks within the cryptocurrency sector has increased dramatically during the last six years. 

Also Read: DeFi Protocol Rodeo Finance Hacked; $1.53 Million ETH Stolen

According to Statista, there were nine attacks in 2017 and 190 in 2022.

Some of the most common malware that is now harming the cryptocurrency industry are SmokeLoader, RaccoonStealer, and Vidar, according to various cybersecurity organizations like Blackberry.

Tags: cryptocrypto newsdefi hackshacking
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Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

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