What happened
Two big liquidations occurred on Compound Protocol due to the $DAI price spike.
Compound is the lending protocol that also provides yield functionality. Around $89 million was liquidated on the protocol Compound due to the oracle issue, as far as Compound's oracle uses Coinbase for pricing data. The price of $DAI token spiked up to $1.3 on the Coinbase Pro exchange.
Since many of the loans were undercollateralized, they were liquidated.
$46 million liquidation transaction:
https://etherscan.io/tx/0x53e09adb…50f3e4
Address liquidated on $17.5 million in several transactions:
https://etherscan.io/address/0xb1adcedd…029484
Case & protocol details
Evidence & learning
Attack pattern
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