Wu Shuo learned that, according to BlockSec Phalcon monitoring, the Ploutus protocol on Ethereum lost approximately $390,000 due to an oracle misconfiguration. The oracle was incorrectly set to use the BTC/USD price source to price USDC. The attacker exploited this error by borrowing 187 ETH with only 8 USDC collateral. The attack occurred in the next block after the misconfiguration was confirmed, indicating that the attacker closely monitored the configuration change and acted quickly. Additionally, the monitoring system detected suspicious transactions targeting FOOMCASH on the Base and Ethereum networks. This incident is suspected to be a mimic attack exploiting the same root cause as the previous Veil Cash vulnerability.
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Wu Shuo learned that, according to BlockSec Phalcon monitoring, the Ploutus protocol on Ethereum lost approximately $390,000 due to an oracle misconfiguration. The oracle was incorrectly set to use the BTC/USD price source to price USDC. The attacker exploited this error by borrowing 187 ETH with only 8 USDC collateral. The attack occurred in the next block after the misconfiguration was confirmed, indicating that the attacker closely monitored the configuration change and acted quickly. Additionally, the monitoring system detected suspicious transactions targeting FOOMCASH on the Base and Ethereum networks. This incident is suspected to be a mimic attack exploiting the same root cause as the previous Veil Cash vulnerability.