Multi-chain liquid staking protocol Meta Pool suffered a sensible contract exploit on Tuesday, ensuing within the lack of $27 million.
Blockchain safety agency PeckShield reported {that a} bug within the protocol’s staking contract allowed customers to freely mint mpETH, the protocol’s liquid staking token (LST).
Whereas an attacker managed to mint $27 million value of the tokens, a scarcity of liquidity on Uniswap meant that they might solely swap 10 ETH value ($25,000).
An Etherscan transaction earlier than the exploit happened confirmed that an account labeled as “MEV Frontrunner Yoink” eliminated 90 ETH value of liquidity from the pool.
Meta Pool is but to submit any updates concerning the exploit on social media. Whole worth locked (TVL) for the venture nonetheless stands at $75 million, in keeping with DefiLlama, whereas the protocol’s MPDAO governance token trades at $0.02 on minimal quantity.
The exploit continues a pattern from Might that noticed buyers lose $302 million to hacks, scams and exploits, in keeping with CertiK.
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