4,000 ETH ($7.5M) Compromised Following Latest DeFi Exploit

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.

  • The team has already addressed the issue and is supposedly working to investigate and get in touch with the exploiter.

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