Spartan Protocol exploit results in loss of $30M

Cointelegraph

Published May 02, 2021 11:18AM ET

Updated May 02, 2021 01:00PM ET

Spartan Protocol, a liquidity platform for synthetic assets on the Binance Smart Chain, was drained of $30 million in a coordinated attack on its liquidity pool late Saturday.

The exploit targeted a “flawed liquidity share calculation” in the SPARTA/WBNB liquidity pool, which enabled the attacker to withdraw the funds, blockchain security company PeckShield explained. The security expert continued:

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