• Zunami Protocol has been hacked, leading to the theft of millions of funds.
• The attack was caused by a price manipulation glitch in its Curve Pool.
• Security firms have estimated the loss at $2.1 million and hackers washed stolen funds through Tornado Cash.
Zunami Protocol Hacked
DeFi project Zunami has confirmed that their protocol was compromised by hackers, resulting in the loss of millions of funds. Blockchain security firms have estimated the amount lost to be $2.1 million.
Stablecoin Pools Manipulated
The attack was focused on Zunami’s zStables stablecoin pools, which experienced a price manipulation glitch that allowed hackers to exploit it. Users were warned to avoid buying zETH and UZD as part of this incident.
Security Firm Early Warning
SlowMist founder Xian Yu claimed his firm’s systems had detected the vulnerability prior to the attack and had privately informed Zunami Protocol about it beforehand. PeckShield also reported that after revealing the attack on Zunami Protocol, they noted that hackers had washed stolen funds via Tornado Cash.
Brian Danga is believed to be responsible for exploiting this vulnerability in Zunami Protocol and stealing millions of dollars worth of funds from users‘ accounts.
Zunami Protocol is currently investigating what happened during this attack and continues to assure users their collateral remains secure despite any losses incurred as a result of this exploit.