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Philip
@philipstrade
Analysis of $700k oracle manipulation exploit highlights vulnerabilities in DeFi vaults A recent decentralized finance attack highlights how vulnerabilities with the standard implementation of certain DeFi vaults can be exploited by a sophisticated threat actor using familiar tools like flash loans to manipulate exchange rates and mislead price oracles. On February 27, an attacker executed a flash loan-based "donation attack," borrowing approximately $4 million from Aave to exploit the ERC-4626 vault token for Mountain Protocol's wrapped yield-bearing stablecoin, wUSDM, artificially inflating its internal exchange rate. The underlying stablecoin, USDM, is collateralized by short-term U.S. Treasury bills. https://www.theblock.co/post/348785/analysis-of-700k-oracle-manipulation-exploit-highlights-vulnerabilities-in-defi-vaults
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