DeFi bZx project undergoes second attack in a week

Decentralized Financing Facility (DeFi) bZx Credit Protocol has been cracked twice in less than a week. The total losses from the two attacks amounted to about $ 954 thousand.

As a result of the second attack, the project lost 2388 ETH or almost 650 thousand at the current rate. According to bZx founder Kial Kistner, an attacker's actions look like manipulating an oracle.

Although fraud using flash loans and trading on crypto exchanges does not affect the system, due to a repetition of the incident, the team had to suspend the protocol to neutralizesimilar activity.

According to technical experts, an attackertook a loan of 7,500 ETH (almost $ 2 million), half of which he spent on the purchase of synthetic stablecoins sUSD, then to use them as collateral for a loan. Then he used another 12% of the ether to increase the rate of sUSD on the Kyber Network trading platform from $ 1 to $ 2.

For the increased security, he took a second loan for 6796 ETH, due to which he not only repaid the first, but also left 2378 ETH.

The developers plan to prevent further loss of funds by switching to Chainlink platform oracles.

One of the main problems of startups inThere is a high interest in the crypto industry from hackers. In December, the VeChain Foundation reported that a buyback wallet was hacked and tokens worth $6.6 million were stolen.

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