#loan

The lending protocol Prisma Finance was compromised due to vulnerabilities in two MigrateTroveZap smart contracts, enabling the theft of funds secured as loan collateral.

Quantstamp, a blockchain security firm, has introduced the Economic Exploit Analysis tool designed to detect potential flash loan attack vulnerabilities in smart contracts. While it can analyze multiple contracts from various DeFi protocols, some manual adjustments are needed for specific protocols. Flash loan attacks, which have drained about $200 million in the Euler Finance exploit alone, are a growing concern in DeFi.

EraLend, a cryptocurrency lending protocol, was victimized by a re-entrancy attack, leading to substantial losses of $3.4 million. The project's team confirmed via Twitter that the threat has been contained, and all loan transactions have been halted. As a precautionary measure, it's currently recommended to avoid making USDC deposits.

U.S. authorities have indicted trader Avraham Eisenberg for orchestrating a fraud and market manipulation scheme on the decentralized exchange Mango Markets. The reports indicate that in late 2022, he intentionally drove up the price of the MNGO token by 1300%, leveraging it as collateral to secure a $110 million loan he failed to return.

Seeking to explore the suspected engagement of FTX’s legal advisers in approving deceitful loans from Alameda amounting to $200 million, Sam Bankman-Fried's law team is in the process of obtaining the necessary permissions.

FTX’s lawyers prepared a $445.8 million suit against Voyager Digital, for loan repayments that Alameda made shortly before Voyager went bankrupt. We have extensively covered this story of "unlove" earlier. The comedy of the situation is that bankrupt Alameda accuses bankrupt Voyager Digital of using the money of creditor's clients, i.e. Alameda. But the key point is that Alameda itself granted the loan from the FTX funds, which actually belonged to the customers of the curly-haired swindler's exchange. Like a drowning swimmer, Sam is dragging everyone down with them. Does he really believe that would help them climb up to the top?