The hacker stole about $ 1.2 million as a result of an attack on the Landing project Inverse Finance

The Landing Protocol Inverse Finance underwent a hacker attack, as a result of which the attacker deduced digital assets worth about $ 1.2 million. Project losses may exceed this amount, said Peckshield.

1/@inversEfinance WAS Exploited in https: // t.CO/OACEMQFWUG,
leading to the gain of ~ $ 1.26m for the Hacker (The Protocol Loss May Be Larger).

– Peckshield Inc. (@peckshield) June 16, 2022

The company explained that the hacker took advantage of the instant loan for manipulating the price oracle, which calculates the cost of LP tokens based on the balance of assets in the liquidity pool.

The attacker led 53 BTC and 100,000 USDT from the protocol. At the time of writing on the address associated with it, ~ 68 ETH are stored. He implemented the remaining assets on the Uniswap decentralized exchange and sent Tornado Cash to the Ethereum Mixer address.

The Inverse Finance team also confirmed the information about the hack. To prevent further loss of funds, the developers temporarily turned off the borrowing operations. They emphasized that during the incident, user assets were not injured.

Inverse Has Temporarily Paussed Borrrings Following An Incident this Dola Was Removed from Our Money Market, Frontier. We are investigating the incident too USR Funds Were Taken Or Were at Risk. We are investigating and Will Provide More Details Soon.

– Inverse+ (@inversEfinance) June 16, 2022

Recall that in April 2022, the unknown derived from the INVERSE Finance protocol over $ 15 million in digital assets. Then the hacker took advantage of the vulnerability in the price oracle of Keep3r.

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