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Resupply Hit by Price Hack That Drained $9.6 Million in Crypto

Key Takeaways

  • ​Resupply lost $9.6 million after attackers manipulated prices in its wstUSR market using the synthetic stablecoin cvcrvUSD;
  • The exploit was traced by the blockchain security firm Cyvers to a flaw in how the protocol calculated value;
  • Resupply paused the affected contract and confirmed only one market was hit, and a full investigation is still underway.

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Resupply Hit by Price Hack That Drained $9.6 Million in Crypto

Resupply, a decentralized finance (DeFi) platform, has confirmed a breach in one of its markets, which resulted in the loss of around $9.6 million worth of crypto assets.

The issue was linked to its wstUSR pool, where attackers used price manipulation involving a synthetic stablecoin known as cvcrvUSD.

Cyvers, a blockchain security firm, reported on June 26 that the attack exploited a flaw in the protocol's calculation of value.

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According to Cyvers, the funds used in the attack were first routed through Tornado Cash, a service often used to hide transaction history.

After gaining access to the assets, the attacker converted them into Ethereum ETH $2,423.76 and split them between two separate addresses. This method is used to make tracking the funds more difficult.

In response, Resupply confirmed that the problem was limited to the wstUSR market. The team shared in a June 26 post on X:

Resupply has experienced an exploit in the wstUSR market. The affected contract has been identified and paused. Only the wstUSR market was impacted and the protocol continues to function as intended.

They added, "A full post-mortem will be shared as soon as a complete analysis of the situation has been conducted".

Recently, Fuzzland, a smart contract platform, confirmed that a $2 million UniBTC exploit in 2024 was carried out by a former employee. But how did it happen? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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