What happened
A suspicious flashloan caused a slippage on the MTDAO (MT) project, leading to a 90% drop in value, and $280k worth of funds lost.
On October 16th 2022, a suspicious flashloan occurred on the MTDAO (MT) project, which caused a significant slippage and a drop of around 90% in the value of the token. The flashloan was used to obtain 730 BNB, which is equivalent to around $280k. The funds were then sent to EOA 0xb2e8, which deposited them into TornadoCash, a privacy-focused Ethereum mixer.
The rest of the funds, approximately $219k, were bridged to Ethereum mainnet and remain in EOA 0xD0665. It is unclear who is behind the exploit, and investigations are ongoing.
Protocol details
Evidence
- report @CertiKAlert incident report twitter.com
- analysis Web Archive archive.ph
- analysis DeFiLlama defillama.com
Understand the attack patterns
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