Sturdy Finance Loses 442 ETHs Worth $800,000 in an Exploitation

• Sturdy Finance has been exploited by an unknown hacker who manipulated a faulty price oracle.
• The platform experienced a loss of 442 ETHs, accounting for an amount of $800,000.
• According to Sturdy Finance’s tweet, the platform suspended trading to avoid further losses.

The DeFi lending protocol Sturdy Finance was attacked today causing a loss of 442 Ether, accounting for an amount of almost $800,000. As per reports, the security attack was executed by an unidentified hacker who misused the re-entrancy vulnerability to manipulate a faulty price oracle.

The blockchain analytics firm PeckShield, took to Twitter earlier today to announce the exploitation that Sturdy Finance has faced.

Hi @SturdyFinance, you may want to take a look: https://t.co/XiJppu6Ww3

The issue seems to be related to the price manipulation

— PeckShield Inc. (@peckshield) June 12, 2023

According to PeckShield’s analysis, Sturdy Finance’s exploitation hasn’t shown any signs of a security breach or a smart contract hack, but “the issue seems to be related to the price manipulation.” The analyst also revealed the hacker’s address, pointing out that the exploiter has already m…

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