The stablecoin staking aggregator, Zunami was hit by a price manipulation attack where the hacker walked out with approximately $2.1 million from the protocol.
The exploit was first discovered by the blockchain security firm PeckShield which announced the ongoing attack on X, suggesting users to take necessary actions. The firm also shared another post citing that the hack led to a loss of over $2.1 million.
The attack targeted Zunami’s zStables pool as the protocol confirmed by a post citing, “Please do not buy zETH and UZD at the moment, their emission has been attacked.”
Following the exploit, Zunami’s stablecoin UZD has slumped 99%, with the current rate at $0.009. Its zETH has also lost its peg to Ether which has fallen 87% to its pre-exploit rate, according to CoinGecko.
The attacker has sent all the stolen funds to Tornado Cash, a crypto mixer protocol that makes it hard to trace the assets from the original source.
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