๐จ New: Hackers exploit Meta Pool smart contracts and steal $27 million from mpETH! ๐ธ
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๐ฅ Major hack:
Hackers exploited a vulnerability in the Meta Pool smart contracts, resulting in the theft of 9,700 mpETH worth approximately $27 million.
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๐ก Nature of the vulnerability and theft:
โ Minting error: The vulnerability allowed attackers to mint mpETH tokens without staking the required Ethereum.
โ Creation out of thin air: The hackers were able to create valuable tokens from nothing, bypassing the underlying collateral mechanism.
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๐ Impact on the DeFi market:
This hack serves as a reminder of the risks in decentralized finance (DeFi), especially for liquid staking tokens. It underscores the importance of rigorous security audits of smart contracts.
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โ What steps do you think DeFi protocols should take to enhance their security after such hacks? ๐ค
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