Zunami Protocol Confirms $2.1M Exploit

Decentralized finance Zunami Protocol has lately warned consumers not to purchase any of its own Zunami Ether (zETH) or Zunami USD (UZD) stablecoins. The tweet follows a breach on its “zStables” pools on Curve Finance. 

Zunami Confirms Stablecoin Pool’s Exploit

On August 13, Zunami informed on X (formerly known as Twitter) that one of its stablecoin pools had been compromised, but that collateral remained intact while the company investigated whether it was an exploit. 

PeckShield was First to Report the Zunami Exploit

PeckShield, a blockchain security business, was the first organization to notice the Curve attack on August 13 at 10:47 UTC, which was officially acknowledged by Zunami around 20 minutes later. According to PeckShield, almost $2.1 million has been stolen from Zumani’s Curve Pool, tying the attack to a cost manipulation problem. Ironblocks, another blockchain security organization, came to a comparable estimation.

Vyper Exploit

Notably, on July 30, a number of hackers targeted holes in the broadly accessible archive of Curve Finance’s Vyper compiler. Vyper compiler versions 0.2.15 to 0.3.0 have been targeted by the hackers. Curve Finance, a Decentralised Finance (DeFi) system, on the other hand, has just made a public statement to refund its users who were harmed by the most recent attack, which ended up resulting in $62 million in financial losses. 

Warnings Against Crypto Exploits

PeckShield recently issued a warning to crypto consumers regarding the risks of APE holding in Non-Fungible Tokens (NFT) schemes. The security alert was issued right after an online criminal bought a Bored Ape Yacht Club (BAYC) NFT and received staked APE along with the sold NFT. According to PeckShield, the hacker bought 14,300 APE tokens worth about $60,000 on acquiring BAYC 7810.

In April, the security firm detailed how the well-known decentralized finance lending system Hundred Finance was subjected to an attack on the Optimism layer-2 scaling network, resulting in the loss of assets worth around $7 million.