DeFi Protocol Lien Finance Loses $542,144 in USDC to Smart Contract Exploit

According to Slow Mist, DeFi protocol Lien Finance was attacked on July 24, with hackers exploiting a smart contract vulnerability to steal approximately 542,144 USDC (around $542,000). Attackers bypassed the bond redemption validation logic, minting unsecured BondTokens without destroying corresponding input bonds, then converted the tokens to USDC through pre-authorized addresses. The vulnerability stemmed from insufficient verification in the bond token exchange mechanism, allowing attackers to circumvent collateral constraints.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments