Rodeo Finance was hacked for $1.5 million.

We are talking about the decentralized financial protocol Rodeo Finance. Recently it became known that it could be hacked. The amount of damage amounted to about $ 1.5 million.

What is known about the hack

The protocol works in the Arbitrum crypto network. The hacker was able to withdraw more than 810 Ethereum coins. By the time of writing, the amount was about $ 1.5 million. The hacking occurred due to manipulations with the oracle.

The analysis was carried out by PeckShield. When the hacker was able to hack the system, he carried out the withdrawal of the stolen funds to the Ethereum crypto network. After that, I exchanged coins for unshETH. Thanks to this, he was able to transfer assets to the Ankr staking platform. After that, he laundered cryptocurrencies using the Tornado Cash cryptomixer.

the project staff has not yet given an official statement about what happened. The head of the Wintermute research department, Igor Igamberdiev, gave a message to The Block. He said that the hack occurred as a result of manipulation by the oracle TWAP.

The specialist said that the hacker was able to independently distort the average value of the coin. Thanks to this, he achieved an illegal advantage for conducting operations. Such a hack made it possible to use flash credit.

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