DeFi protocol Zunami loses $2.1 million in exploit

The yield aggregator Zunami Protocol was hacked, resulting in digital assets worth $2.1 million.

PeckShield analysts noted that the attack occurred due to price manipulation, causing an incorrect calculation of asset prices. According to experts, the hacker has already directed the stolen funds to the mixer Tornado Cash.

Representatives of the project added that the attack targeted the zStables stablecoin protocol. The Zunami team recommended temporarily avoiding purchases of zETH and UZD.

SlowMist founder Xian Yu told on X (formerly Twitter) that his firm discovered the vulnerability two months ago and notified the protocol.

“Unfortunately, this engagement has been an unpleasant experience… Looking back, it seems that the hack could have been avoided,” he said.

Recall that in August, an unknown attacked the Solana-based decentralized exchange Cypher and withdrew around $1 million in cryptocurrencies.

In July the crypto industry lost digital assets worth $303 million due to exploits, scams and hacker attacks.