BlockSec Thwarts Flash Loan Attack on Usual Protocol, Prevents Asset Loss
- Real-time defense by BlockSec’s Phalcon prevented a complex DeFi exploit on Usual
- Multi-stage attack involved flash loans and contract manipulation but was blocked early
- Usual incident highlights rising need for automated security in cross-chain DeFi protocols
A sophisticated hacking attempt on the Usual Protocol was stopped in its tracks thanks to real-time detection by BlockSec’s Phalcon system. The attack, which unfolded on May 28, targeted the decentralized stablecoin platform across multiple blockchains.
Usual, known for its fiat-backed token infrastructure, paused operations temporarily to assess the situation. BlockSec revealed that its intelligent security system intercepted the attack before any assets were lost. This swift response marks a growing trend of DeFi protocols turning to automated tools for constant protection.
Multi-Stage E…
The post BlockSec Thwarts Flash Loan Attack on Usual Protocol, Prevents Asset Loss appeared first on Coin Edition.
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BlockSec Thwarts Flash Loan Attack on Usual Protocol, Prevents Asset Loss
- Real-time defense by BlockSec’s Phalcon prevented a complex DeFi exploit on Usual
- Multi-stage attack involved flash loans and contract manipulation but was blocked early
- Usual incident highlights rising need for automated security in cross-chain DeFi protocols
A sophisticated hacking attempt on the Usual Protocol was stopped in its tracks thanks to real-time detection by BlockSec’s Phalcon system. The attack, which unfolded on May 28, targeted the decentralized stablecoin platform across multiple blockchains.
Usual, known for its fiat-backed token infrastructure, paused operations temporarily to assess the situation. BlockSec revealed that its intelligent security system intercepted the attack before any assets were lost. This swift response marks a growing trend of DeFi protocols turning to automated tools for constant protection.
Multi-Stage E…
The post BlockSec Thwarts Flash Loan Attack on Usual Protocol, Prevents Asset Loss appeared first on Coin Edition.
Read More