Odaily Planet Daily News DeFi synthetic asset protocol Linear Finance announced that its protocol was attacked on September 21, resulting in all LUSD liquidity on PancakeSwap and Ascendex being emptied and the LUSD price falling to zero. The attacker minted LAAVE without limit and traded it for LUSD on Linear Exchange, which was subsequently sold on PancakeSwap and Ascendex.
To protect the protocol, assets, and users, the Linear team has taken the following measures: suspending all protocol contracts that allow tokens to be minted, destroyed, or traded; disabling LUSD’s Linear bridge contract; hiring a professional team to track down attackers and bring them to justice; Share wallets known to be involved in this attack with all major exchanges and authorities.