Stablecoin protocol Resupply loses $9.6M to price manipulation exploit
A flaw in ResupplyFi’s contract allowed an attacker to manipulate token prices and drain $9.6 million from its wstUSR market.
Decentralized finance (DeFi) protocol Resupply confirmed a security breach in its wstUSR market, which led to an estimated $9.6 million in crypto losses.
Blockchain security firm Cyvers said on Thursday the exploit was triggered by a price manipulation attack involving the protocol’s integration with a synthetic stablecoin called cvcrvUSD.
Meir Dolev, Cyvers’ co-founder and chief technology officer, told Cointelegraph that the attacker exploited a price manipulation bug in the ResupplyPair contract. “By inflating the share price, they borrowed $10 million reUSD using minimal collateral,” Dolev said.
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