A flash loan attack launched against New Free DAO (NFD) has drained $1.25 million from the protocol and caused its token price to crash by 99%.<\/p>\n
Blockchain security firm Certik<\/a> raised an alarm about the attack via Twitter<\/a> on Sept. 8. The attacker manipulated NFD's “addMember()” function to add himself as a member, which gave him access to use the unverified contract to execute three flash loans.<\/p>\n #CertiKSkynetAlert<\/a> \ud83d\udea8<\/p>\n New Free Dao – $NFD<\/a> was exploited via flash loan attack gaining the attacker 4481 WBNB (approx. ~$1.25M) causing the token to slip in price 99%.<\/p>\n The attacker has connections to Neorder – $N3DR attack from 4 months ago where they took 930 BNB at the time. pic.twitter.com\/5Rcht3YiIK<\/a><\/p>\n \u2014 CertiK Alert (@CertiKAlert) September 8, 2022<\/a><\/p><\/blockquote>\n The attacker was able to borrow 4481 WBNB and swapped<\/a> it for NFD tokens amounting to $1.25 million which forced the token price to crash by 99%.<\/p>\n About $500,000 is said to have been swapped to BUSD and being laundered\u00a0through sanctioned mixing protocol Tornado Cash.<\/a><\/p>\n In less than 24 hours, the crypto community had to battle two flash loan attacks, including that of Avalanche.<\/a><\/p>\n On Sept. 7,<\/a> a flash loan attack on the Avalanche blockchain wiped off $370,000 USDC from protocols building on the network.<\/p>\n #CertiKSkynetAlert<\/a>\ud83d\udea8<\/p>\n CertiK Skynet has reported a #flashloan<\/a> attack on #AVAX<\/a> impacting contract 0xe767c… & some LPs. The attacker profited ~$370k USDC.<\/p>\n Possible impacted protocols include:@nereusfinance<\/a> @traderjoe_xyz<\/a> @CurveFinance<\/a> Stay Frosty!\u2603\ufe0f pic.twitter.com\/bZvtgVPpl4<\/a><\/p>\n\n
Attackers take to Avalanche<\/h2>\n
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