Hacker artificially inflated the value of the plvGLP token used on the PlutusDAO platform.
The attacker borrowed all available liquidity and cashed out a portion of the money.
On December 10th, a flash loan attack was conducted using the Arbitrum-based Lodestar Finance lending protocol. An attacker, as reported by Lodestar, artificially inflated the value of the plvGLP token used on the PlutusDAO platform. And then used that token to drain the platform dry of all available liquidity.
Lodestar detailed the assault process in a series of tweets. The attacker started by driving the plvGLP contract exchange rate to 1.83 GLP per plvGLP. “An exploit that by itself would be unprofitable,” according to the firm.
Bug Bounty Proposed
After providing Lodestar with plvGLP collateral, the attacker borrowed all available liquidity and cashed out a portion of the money “until the collateralization ratio mechanism prevented a full liquidation of the plvGLP.”
There were “several plvGLP holder
We współpracy z: https://thenewscrypto.com/defi-protocol-lodestar-finance-exploited-in-flash-loan-attack/
