Minterest releases security incident update: Ethereum and Taiko protocols are not affected, and a compensation plan is being formulated

Minterest released an update on X regarding the recent security incident: On July 14, Minterest suffered a security incident on Mantle, and the protocols on the Ethereum and Taiko networks were not affected. The team is actively addressing this issue and taking measures to strengthen the security of the platform. The vulnerability targets the USDY token smart contract, and other token market smart contracts on Minterest are not affected. A total of $1.4 million in mETH and WETH were stolen during the period. The team has currently taken the following measures: -Suspend platform operations; -Contact exchanges to mark wallet addresses; -Work with security companies; -Try to get in touch with the attacker; -Publish bounty tasks on Arkham; -Conduct security audits. The next plan includes: -USDY holders: The contract status has been corrected to pre-attack conditions; -Liquidated users: The liquidation fees incurred during the attack will be returned; -WETH/mETH suppliers: Remediation plans are underway, including measures to recover funds. Earlier news, Minterest suffered a flash loan attack and lost $1.4 million.