The lending protocol, Solend, highlighted around $1,140 wrongful liquidation penalties charged on 22 accounts due to an issue that occurred in IsIN price oracle.
According to the blog, the issue was prompted between July 4 to July 6. IsIN switchboard reads data from the InvictusDAO dashboard, which has shown wrong results between this time period.
Ultimately, the wrong dashboard results reported incorrect prices that led accounts to be liquitable under the wrongful oracle price.
To resolve this issue, the IsIN switchboard team has hardcoded the IsIN oracle to $70.46. Apart from this, the affected users will be compensated through a USDC airdrop.
Also Read: Fortress Protocol’s Oracle Bug Causes $3M Loss in Cyber Heis
Most importantly, the redemption portal InvictusDAO is going to turn off on August 31. However, the remaining IsIN position in Invictus Pool on Solend will be closed on August 24. Furthermore, there will be no liquidation penalty charged during closing.
