What happened
Quick Summary
A hacker exploited the illiquid BTC/CAD pair on Kraken, causing a 99% drop in the Bitcoin-to-Canadian Dollar (CAD) pair.
Details of the Exploit
The attacker gained access to a compromised account with 1200BTC but was unable to withdraw. The attacker then placed his own limit of $100 buy orders on the illiquid BTC/CAD pair. Returning to the compromised account, the attacker dumped the 1200BTC on the BTC/CAD pair to himself, effectively becoming the legitimate owner of 1200BTC.
Protocol details
Evidence
- report Report blockonomi.com
- report @Beetcoin incident report twitter.com
- report @TraderZeus_ incident report twitter.com
- analysis DeFiLlama defillama.com
Understand the attack patterns
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