The transaction is the most sophisticated one I’ve ever seen i | LibreCharts

The transaction is the most sophisticated one I’ve ever seen in this space. There were two flash loans back to back.

First was with dydx, the second with Aave (with interest). They did the second flash loan as an interest bearing one. First time for wETH, then they obtained aWETH

The attacker then collateralized their aWETH on Compound, then re-collateralized their minted Compound derivative Ethereum. This is important because the exploit is due to a weird confluence of swaps that essentially amounted to a few hundred million 3crv tokens being minted (that’s the LP reward from the 3-pool), which was then burned (and still is being burned) continuously for DAI redemptions.