Arbitrum-based Jimbos Protocol has become the latest decentralized finance (DeFi) project to fall victim to a hack, resulting in the hacker stealing a significant amount of funds.
The hack, targeting Version 2 of the Jimbos Protocol, resulted in a loss of $7.3 million.
The Latest Hack to Rock DeFi
The decentralized finance (DeFi) ecosystem continues to be a prime target for hackers, with the hack of the Jimbos Protocol the latest to occur. The protocol was hacked on the 28th of May, 2023, resulting in the loss of around 4000 ETH, worth around $7.3 million, according to data sourced from PeckShield. PeckShield posted an update regarding the hack on their Twitter handle, stating,
“It appears today’s @jimbosprotocol hack leads to the 4090 ETH loss (w/ ~$7.5M). This hack is due to the lack of slippage control of liquidity-shifting operation — such that the protocol-owned liquidity is invested into a skewed/imbalanced price range, which is exploited in a reverse swap for profit
We współpracy z: https://cryptodaily.co.uk/2023/05/arbitrum-based-jimbos-loses-7m-as-defi-exploits-continue
