🚨 DEFI VAULT EXPLOIT EXPOSES VULNERABILITIES
🔹A $717K loss occurred due to an oracle manipulation attack on DeFi protocols on #ZKsync , including #Venusprotocol .
🔹Attacker exploited Mountain Protocol’s wUSDM token by using a flash loan to inflate its exchange rate.
🔹Emergency measures taken: market freeze, risk adjustment, and exchange rate reset.
🔹Experts recommend using cross-chain or capped oracles for better security.
🔹Calls for enhanced DeFi vault standards to prevent similar attacks.
-The Block
