The Conic Finance platform has been compromised!

posted  21 Jul 2023
Photo - The Conic Finance platform has been compromised!
This platform, crafted to stabilize liquidity pools within the Curve DeFi protocol, has fallen victim to a hacker who made off with 1700 ETH, a haul worth $3.2 million. The culprit leveraged a re-entrancy vulnerability and manipulated a malfunctioning price oracle to achieve this. The Conic Finance team has disclosed that this particular exploit is solely connected to the ETH Omnipool.
This platform, crafted to stabilize liquidity pools within the Curve DeFi protocol, has fallen victim to a hacker who made off with 1700 ETH, a haul worth $3.2 million.

The culprit leveraged a re-entrancy vulnerability and manipulated a malfunctioning price oracle to achieve this.

The Conic Finance team has disclosed that this particular exploit is solely connected to the ETH Omnipool.