MetronomeDAO discloses $16M shortfall due to oracle lag
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MetronomeDAO reveals a deficit of USD $16 million in its exchange module: 31% of the supply of msETH and 16% of msUSD are unbacked after exploitation of stagnated oracle prices by automated bots. *** Usd $16 million in subcollateralized synthetic assets Bots exploited 54-second latency in the Chainlink oracle at MetronomeDAO Base injects USD $34 million in defensive positions and USD $6.5 million in liquidity MetronomeDAO revealed that approxima…
MetronomeDAO discloses $16M shortfall due to oracle lag
The incident highlights the critical need for robust oracle systems in DeFi, as latency issues can lead to significant financial vulnerabilities. The post MetronomeDAO discloses $16M shortfall due to oracle lag appeared first on Crypto Briefing.
Metronome Discloses $15.7 Million Synth Shortfall, Blames Oracle Lag in Swap Module
MetronomeDAO disclosed that roughly 6,367 msETH and 4.57 million msUSD in circulation, about $15.7 million at current prices, have no collateral behind them, after trading bots spent months exploiting delayed price data in the protocol's swap feature. The hole equals about 31% of all msETH and 16%... Read the full story at The Defiant
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