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It appears that the DeFi industry remains a prime target for hackers.
On the morning of May 28, another exploit occurred, this time targeting the liquidity platform Jimbos Protocol.
- The Jimbos protocol was exploited today – May 28th.
- According to an update from Peckshield, the hack resulted in the loss of approximately 4,000 ETH, which was worth approximately $7.5 million at the time of the incident.
- Per PeckShield:
This hack is due to the lack of slippage control of the liquidity-transfer operation – such that protocol-owned liquidity is invested in a skewed/imbalanced price range, which is exploited in reverse swaps for profit.
it seems today @jimbosprotocol The hack resulted in a loss of 4090 ETH (w/ ~$7.5M).
This hack is due to the lack of slippage control of the liquidity-transfer operation – such that protocol-owned liquidity is invested in a skewed/imbalanced price range, which is exploited … pic.twitter.com/TPlqNlvnZD
– Peckshield Inc. (@peckshield) May 28, 2023
- The team has already addressed the issue and is believed to be working to investigate keep in touch with absorbent.
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