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Cryptocurrency News

Avalanche flash loan exploit sees $371K in USDC stolen

09/08/2022

Less than a minute

2022.09.08 16:05

Avalanche flash loan exploit sees $371K in USDC stolen

Avalanche-based lending protocol Nereus Finance has been the victim of a crafty hack that saw a user net $371,000 worth of USD Coin (USDC) using a smart contract exploit.

Blockchain cybersecurity firm CertiK was one of the first to detect the exploit on Sept. 6, indicating that the attack impacted liquidity pools on Nereus relating to decentralized exchange Trader Joe and automated market maker Curve Finance.

Source