Attacker scoops $370,000 profit flash loan arbitrage on Avalanche Nereus Finance, a DeFi staking platform on Avalanche, was impacted in a flash loan arbitrage attack on Tuesday, that saw the exploiter drain $370,000 in USDC stablecoin, according to a report by CertiK. On-chain data from Snowtrace shows the attacker launched the exploit with a $51 million flash loan. The funds were used to execute a flash loan attack that manipulated token pricing on Nereus. The attacker paid back the $51 million loan but still had $370,000 in USDC after the arbitrage trade was over. Read more
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