Liquidity problems met users on two decentralized financial (Defi) platforms of today, although for various reasons and with very different consequences.
In what the user error seems to be, three extensive swaps of 220,000, 131,000 and 91,000 USDC Stablecoin from Circle supplied a total of just over 10,000 Tethers (USDT) after falling from a maximum extrahale volume (MEV) Bot.
The swaps, made via the uniswap V3 -decentralized exchange, were marked by blockchain security company Peckshield, who regularly warns the Defi community of hacks, phishing attacks and suspicious transactions.
Read more: Mev Bot returns $ 7.5 million if RHO Markets admits in Oracle error
Although the three affected transactions all come from different addresses, a short glance at their transaction history indicates that they are probably of the same person.
In all three cases, the in the swaps used in the swaps were about seven hours earlier from the Defi Lending Platform Aave’s USDC -Pool of $ 1.2 billion USDC. USDT was also withdrawn but not exchanged.
Mev -bots ready to jump
MEV Bots scan the mempool of Ethereum, the list of current transactions, looking for opportunities to take advantage of the actions of other users.
It is usually about sending a transaction for the victim to manipulate the price of assets in the liquidity pool, so that assets are exchanged for a decentralized exchange such as Uniswap.
In this case, the Front-Run transaction of the BOT changed 18 million USDC, which increased the price of USDT in the pool by a factor of 44. The original transaction of the victim then continues, and finally, the bone-back runs the victim, roughly free $ 200,000 profit.
Acts are usually protected via “Slippage” settings, which define a minimum amount of tokens that must be received or the transaction returns. For these swaps, however, the parameter of the amount of Ooutminimim was set to zero.
Read more: Ethereum Foundation denies rumors about maker Liquidation
Staff
Elsewhere in Defi, the Exchange Hyperliquid leverage went to X chain to reassure users who had not hacked it after a trader had shocked the community by actually making money for the change.
Read more: Are North Korean hackers liquidated on hyperliquid something?
The hyperliquid “whale” opened an Ether (ETH) for a long time at 50x leverage, which resulted in a win of $ 1.8 million. However, the actions of the trader took one $ 4 million Chunk from the safe (HLP) of the hyperliquic (HLP) when the collateral was withdrawn and the position was liquidated.
Since then, Hyperliquid has reduced the maximum leverage offered on ETH by half.
The HLP safe enables users to participate in making market on the platform, both profit and share sharing, and has built up deposits of a total of $ 436 million according to Defillama data.
Today $ 4 million loss represents about 30 days of growth in the safe.
One X user summarized a recent ETH dealer sentiment and pushed ‘PPL thought of them [sic.] Was an exploit because someone earned money and required ETH ”.
