The LpdFi protocol suffered a loss of 700,000 USD due to an attack, with the attacker profiting from flash loans and price manipulation
According to monitoring by Chainalysis, yesterday Hexagate detected that the LpdFi protocol was attacked, resulting in a loss of approximately $700,000. The attacker borrowed about $44 million in a flash loan, artificially inflated the price of LPD tokens by 71 times on the DEX, and then used tokens worth only about $2 million to fake a deposit of approximately $140 million in the protocol.One second later (just crossing the daily interest settlement boundary of the protocol), the attacker collected the interest for the inflated position for an entire day, triggering the protocol to liquidate its entire liquidity pool and pay out the stolen funds. After repaying all loans, the attacker made a profit of about $700,000 and immediately transferred the funds through Relay and TornadoCash.
