Linear Finance Hit by Attack Resulting in LUSD Liquidity Wipeout
The attacker exploited a vulnerability, enabling them to mint an unlimited supply of LAAVE.
They subsequently traded this liquid asset for LUSD on the Linear Exchange, later selling it on PancakeSwap and Ascendex.
“Restoring the protocol and un-doing the damage for our users will be our highest priority until the issue is fully resolved,” - Linear Finance team stated.
All protocol contracts has been disabled for LUSD. The Linear Team have engaged an industry leading team to track the attackers and bring them to justice.
“Restoring the protocol and un-doing the damage for our users will be our highest priority until the issue is fully resolved,” - Linear Finance team stated.
All protocol contracts has been disabled for LUSD. The Linear Team have engaged an industry leading team to track the attackers and bring them to justice.
