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Cryptocurrency News

Inverse Finance exploited again for $1.2M in flashloan oracle attack

06/17/2022

Less than a minute

2022.06.17 08:30

Just two months after losing $15.6 million in a price oracle manipulation exploit, Inverse Finance has again been hit with a flashloan exploit that saw the attackers make off with $1.26 million in Tether (USDT) and Wrapped Bitcoin (WBTC).

Inverse Finance is an Ethereum based decentralized finance (DeFi) protocol and a flashloan is a type of crypto loan that is usually borrowed and returned within a single transaction. Oracles report outside pricing information.