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Conic Finance, a liquidity pool balancing platform for decentralized finance (DeFi) protocol Curve, was hit by an exploit on Ethereum Omnipool.
Conic Finance Exploited $3.26 Million in Ether (ETH), Web3 Risk Alert Source Beosin Alert report On July 21, almost all of the stolen cryptocurrency was stolen. Sent According to data provided by Beosin, just one transaction will send to the new Ethereum address.
Konik Finance quickly confirmation On Twitter, the news states that the platform is currently investigating this exploit and will share updates as they become available.
Related: DeFi Protocol Arcadia Finance Hacks Ethereum And Optimism For $455K
According to initial analysis offered According to blockchain security firm Peckshield, the root cause lies in the new CurveLPOracleV2 contract.
“Our audit identified similar read-only reentrancy issues. However, the newly introduced CurveLPOracleV2 contract, which was not part of our audit scope, also brought in the same issue,” wrote Peckshield.
This is a work in progress story and more information will be added as it becomes available.
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