It appears that the DeFi industry continues to be a prime target for hackers. On the morning of May 28th, another exploit took place, this time taking aim at liquidity platform Jimbos Protocol. Jimbos Protocol got exploited today – May 28th. According to an update by PeckShield, the hack resulted in a loss of around 4,000 ETH, worth some .5 million at the time of the incident. Per PeckShield: This hack is due to the lack of slippage control of liquidity-shifting operation – such that the protocol-owned liquidity is invested into a skewed/imbalanced price range, which is exploited in reverse swap for profit. It appears today’s @jimbosprotocol hack leads to the 4090 ETH loss (w/ ~.5M). This hack is due to the lack of slippage control of liquidity-shifting operation —
Topics:
George Georgiev considers the following as important: AA News, crypto scams
This could be interesting, too:
Chayanika Deka writes Yuga Labs Secures Major Win as SEC Closes Investigation Without Charges
Andrew Throuvalas writes Bitcoin Soars Back To ,000 After BlackRock CEO Says “Buy The Dip”
Chayanika Deka writes XRP, SOL, and ADA Inclusion in US Crypto Reserve Pushes Traders on Edge
Chayanika Deka writes Why Arthur Hayes Is Bullish on Bitcoin Under Trump’s Economic Strategy
It appears that the DeFi industry continues to be a prime target for hackers.
On the morning of May 28th, another exploit took place, this time taking aim at liquidity platform Jimbos Protocol.
- Jimbos Protocol got exploited today – May 28th.
- According to an update by PeckShield, the hack resulted in a loss of around 4,000 ETH, worth some $7.5 million at the time of the incident.
- Per PeckShield:
This hack is due to the lack of slippage control of liquidity-shifting operation – such that the protocol-owned liquidity is invested into a skewed/imbalanced price range, which is exploited in reverse swap for profit.
It appears today’s @jimbosprotocol hack leads to the 4090 ETH loss (w/ ~$7.5M).
This hack is due to the lack of slippage control of liquidity-shifting operation — such that the protocol-owned liquidity is invested into a skewed/imbalanced price range, which is exploited in… https://t.co/wnQAeksojz pic.twitter.com/TPlqNlvnZD
— PeckShield Inc. (@peckshield) May 28, 2023
- The team has already addressed the issue and is supposedly working to investigate and get in touch with the exploiter.