DeFi Protocol 0VIX Loses Nearly $2 mn in Flash-Loan Exploit
According to on-chain data on Polygon’s block explorer, the decentralized-finance protocol 0VIX lost almost $2 million in a flash-loan hack.
1.45 million USDC and other tokens were stolen before being bridged to the Ethereum mainnet on Stargate Finance and finally swapped for ether (ETH).
Prior to the hack, the protocol had $6.4 million in total value locked. This sum has already dropped to $1.7 million as investors quickly withdraw their funds.
This is the latest in a string of cryptocurrency exploits, with ZkSync-based decentralised exchange Merlin being victimised by a $2 million rug grab on Wednesday.
On Twitter, 0VIX confirmed the hack, saying it is “working with its security partners to look into the current situation.”
(With inputs from Shikha Singh)
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