The post DeFi Firm Onyx suffers a $2.1 million security breach! appeared first on Coinpedia Fintech News

Onyx has experienced a security breach that led to a loss of over $2.1 million. Security analysts at BlockSec discovered that the attacker exploited a specific vulnerability in Onyx’s codebase called “precision loss” to drain funds via a flash loan and an integer rounding issue. The attacker took out a flash loan of ether and swapped it for PEPE, which was then donated to a specific pool to manipulate the exchange rate. Due to precision loss, the attacker was able to withdraw more of the underlying asset by burning fewer shares. The attacker has laundered $1.25 million on Tornado Cash, according to on-chain data.

The post DeFi Firm Onyx suffers a $2.1 million security breach! appeared first on Coinpedia Fintech News

Onyx has experienced a security breach that led to a loss of over $2.1 million. Security analysts at BlockSec discovered that the attacker exploited a specific vulnerability in Onyx’s codebase called “precision loss” to drain funds via a flash loan and an integer rounding issue. The attacker took out a flash loan of ether and swapped it for PEPE, which was then donated to a specific pool to manipulate the exchange rate. Due to precision loss, the attacker was able to withdraw more of the underlying asset by burning fewer shares. The attacker has laundered $1.25 million on Tornado Cash, according to on-chain data.