BlockSec: The LML/USDT staking protocol on BSC suffered a price manipulation attack, resulting in a loss of approximately $950,000.
Foresight News reports, according to monitoring by BlockSec, a suspicious vulnerability exploit was detected on BSC targeting an unknown contract, which may involve the LML/USDT staking protocol and has resulted in losses of approximately $950,000.
Although the affected contract is not open source, analysis shows it may have a flaw in its pricing design: the claimable rewards appear to be calculated based on the TWAP/snapshot price, while the attacker was able to sell reward tokens at a manipulated spot price, profiting through price manipulation and reverse swaps. The attacker first increased the price of LML in the pool through a series of transactions (including a path where the recipient was set to address(0)). Then, using a controlled address with previously deposited funds, the attacker initiated the reward claim, thereby becoming eligible for the direct reward during the attack.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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