Linear Finance Hit by Attack Resulting in LUSD Liquidity Wipeout
The attacker exploited a vulnerability, enabling them to mint an unlimited supply of LAAVE.
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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.
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