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A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
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Lending protocol Moola Market is the latest to fall victim to a “highly profitable trading strategy”, and the first CELO protocol on the rekt.news leaderboard (#63). Similarly to last week’s Mango Markets case, the exploit was carried out via price manipulation of a collateral asset, this time netting the attacker $8.4M. The Moola team announced the incident on Twitter, appealing to the CEX-funded attacker to return funds in exchange for a bounty. Fortunately, just six hours later, over 90% of the funds were returned to the Moola multisig, with the exploiter keeping ~$525k as a bounty, of which $37k was donated to charity… A guilty conscience or a planned whitehat?
Lending protocol Moola Market is the latest to fall victim to a “highly profitable trading strategy”, and the first CELO protocol on the rekt.news leaderboard (#63). Similarly to last week’s Mango Markets case, the exploit was carried out via price manipulation of a collateral asset, this time netting the attacker $8.4M. The Moola team announced the incident on Twitter, appealing to the CEX-funded attacker to return funds in exchange for a bounty. Fortunately, just six hours later, over 90% of the funds were returned to the Moola multisig, with the exploiter keeping ~$525k as a bounty, of which $37k was donated to charity… A guilty conscience or a planned whitehat?
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