The Ploutus protocol on Ethereum suffered a loss of approximately $390,000 following an oracle misconfiguration, as reported by BlockSec Phalcon. The oracle was incorrectly set to use the BTC/USD price feed for USDC pricing, allowing an attacker to exploit the flaw. The attacker managed to borrow 187 ETH by collateralizing just 8 USDC. The attack occurred in the block immediately after the misconfiguration was confirmed, indicating the attacker closely monitored the changes and acted swiftly.
Additionally, suspicious transactions targeting FOOMCASH on both the Base and Ethereum networks were detected. These incidents appear to mimic a previous exploit of the Veil Cash vulnerability, suggesting a similar underlying cause.
Ploutus Protocol Loses $390,000 Due to Oracle Misconfiguration
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