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Cryptoknowmics 2022-05-31 05:31:18

Terra’s Mirror Protocol Hacked for the Second Time

Just days after discovering that Mirror Protocol had been exploited for almost $90 million seven months ago, it appears the protocol is suffering another attack due to an error in the configuration of price oracles. .@mirror_protocol has just been exploited again due to Terra Classic validators reporting the price of the new Terra 2.0 $LUNA coin (~$9.80) instead of the original Terra Classic $LUNC coin (~$0.0001) This is a massive operations failurehttps://t.co/hO0M0UFBYq https://t.co/ygbr3ij4iS pic.twitter.com/PO0huxX8oQ — ChainLinkGod.eth (@ChainLinkGod) May 30, 2022 The attacker is apparently taking advantage of the fact that price oracles are mismatching the old LUNC token with the new LUNA token. This was confirmed by a Chainlink community member who said oracles are currently “reporting the price of the new Terra 2.0 $LUNA coin (~$9.80) instead of the original Terra Classic $LUNC coin (~$0.0001)”. The report estimates that the exploit has already cost Mirror Protocol around $2 million, though as of yet it has not been completely confirmed. It is apparent however that mBTC, mETH, mDOT, and mGLXY pools have been drained of their liquidity. Mirror Protocol is a DeFi platform that allows for the creation of synthetic assets that track the price of real-world assets, such as stocks. Its core contracts were deployed on Terra Classic, but its assets are available on Ethereum and Binance Smart Chain (BSC). This is the second tim...

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Terra’s Mirror Protocol Hacked for the Second Time

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