Attacker Makes Away With $400,000 in SVT Flashloan Exploit: Report

• Certik Alert today reported a flashloan exploit involving SVT tokens that resulted in a $400k loss. 
• The attacker has deposited 1000 BNB, worth $217k into Tornado Cash. 
• According to Certik, there has been over 12 exploits recorded since last week.

Blockchain security firm Certik Alert earlier today reported a flashloan exploit on SVT tokens that resulted in a $400,000 loss. According to the report, the attacker took advantage of a vulnerable contract for SVT trading. The unsuspecting user fell victim to the attack, and lost their funds as a result.

Certik Alert said the exploit was made because of the trading’s flawed economic model. It stated that the attacker used a pattern of repeated buy and sell operations to gain the $400k. 

At the present time, the attacker has deposited 1000 BNB, worth $217,000 into decentralized cryptocurrency tumbler Tornado Cash. The platform is a popular stop for attackers hoping to wash their exploit proceeds to avoid suspicion.  

Meanwhile, Certik earlier covered that since last week friday, there has been over 12 exploits, including five Discord hacks, two Phishing attacks and one Twitter hack. According to the firm, t…

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