cryptonews.net
Flash loans on the Avalanche blockchain were attacked and resulted in the loss of $370,000 in USDC from the smart contract as well as several liquidity providers, CertiK reported on Tuesday. The identity of the attacker, as in most cases, remains unknown.
Decentralized exchange Trader Joe, staking platform Nereus Finance and automated market maker Curve Finance were affected, the firm said on Twitter. The attack, which took place around 3:26 pm ET Tuesday, was detected by CertiK Skynet network security software, which actively monitors and displays suspicious smart contract data on the Internet.
Compatible with Ethereum, the Avalanche network consists of an ecosystem of decentralized applications as well as staking initiatives through the Proof-of-Stake consensus mechanism. Flash loans have already been involved in several high-profile crypto heists, including the third largest in 2022, when DeFi dapp Beanstalk lost $182 mln.
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