Lending protocol Wrap Finance has become the latest victim of a flash loan attack, losing approximately $7.7 million on Dec. 18.
- The attacker siphoned $7.7 million worth of stablecoins, with the team saying there is a plan to recover $5.5 million, which will be distributed to users
- The team said they would provide a post-mortem of the attack in the upcoming days
- DeFiPrime first drew attention to a suspicious transaction, which shows that the attacker used DEXs like Uniswap and dYdX to swap assets
- The market’s major DEXs have been used to swap stolen assets, which was also done by the attacker who targeted Nexus Mutual’s CEO
- The recent space of flash loan attacks proves Chainlink co-founder Sergey Nazarov’s remarks that there more attacks will arrive
- Flash loan victims include Harvest Finance, Balancer Labs, Original Protocol and Akropolis