Cryptocurrency News
Luna Classic (LUNC) pricing error leads to Mirror Protocol exploit
2022.05.31 06:45
Luna Classic (LUNC) pricing error leads to Mirror Protocol exploit
A mismatch in the reported price of underlying assets on synthetic assets DeFi platform Mirror Protocol has caused an ongoing exploit that has the potential to drain all of its funds.
The exploit was observed on May 29 by governance participant ‘Mirroruser’ on the protocol’s forum. As of the time of writing, the mBTC, mDOT, mETH, and mGLXY synthetic asset pools on the protocol have lost almost all of their assets valued at over $2 million.
