Makina Finance suffers $5 million stablecoin pool exploit: CertiK
DeFi protocol Makina Finance lost approximately $5 million from a stablecoin pool due to a sophisticated flash loan attack exploiting its oracle.Summary
Decentralized finance protocol Makina Finance experienced an exploit resulting in the loss of roughly $5 million from one of its stablecoin pools, as reported by security firm CertiK. The attack involved an exploiter using a 280 million USDC flash loan to manipulate the protocol's MachineShareOracle pricing mechanism, allowing them to drain the DUSD/USDC Curve stablecoin pool. While CertiK estimated the loss around $5 million, other firms reported slightly different figures, with PeckShield noting about $4.13 million in ether lost. In a subsequent development, an MEV builder captured the majority of the stolen funds, seizing $4.14 million. Makina Finance's team acknowledged awareness of the incident via Discord, isolating the issue to DUSD LP positions on Curve and advising liquidity providers to withdraw funds, though they had not formally confirmed the total loss at the time of reporting.
(Source：The Block)