Avalanche flash loan exploit sees $371K in USDC stolen

Cointelegraph

Published Sep 07, 2022 11:29PM ET

Updated Sep 08, 2022 01:00AM ET

Avalanche-based lending protocol Nereus Finance has been the victim of a crafty hack that saw a user net $371,000 worth of USD Coin (USDC) using a smart contract exploit.

Blockchain cybersecurity firm CertiK was one of the first to detect the exploit on Sept. 6, indicating that the attack impacted liquidity pools on Nereus relating to decentralized exchange Trader Joe and automated market maker Curve Finance.

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