SharkTeam: Analysis of the principle of MIM_SPELL attack
On January 30, 2024, MIM_SPELL suffered a flash loan attack. Due to a precision calculation vulnerability, the project lost $6.5 million.
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#Bitcoin Nothing to see here. Just your average weekend price action. Expecting volatility to pick back up after futures re-open. Going to be interesting this week as we saw a big uptick in $ETH ETF flows.
01/12/2024 19:30
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DeFi protocol MIM_Spell was "sneak-attacked" by hackers and lost more than $6 million
The main reason for this incident is that the attacker used the project contract to use the rounding-up algorithm and controlled the parameter to 1 to maximize the rounding-up error, thus causing the ledger to be unbalanced.
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Cointelegraph