Cosine: Two months ago, I privately informed Zunami Protocol about the risks of price manipulation attacks

ChainCatcher news, according to a tweet from the founder of Slow Mist, Yu Xian, two months ago, Slow Mist detected the risk of price manipulation attacks on the decentralized stablecoin yield protocol Zunami Protocol and privately informed the team in advance, but "unfortunately, it was an unpleasant communication."

This morning, Zunami Protocol tweeted that zStables is suspected to have been attacked, but the collateral remains safe, and the team is currently conducting an in-depth investigation. According to Web3 cybersecurity company Ancilia's monitoring, the hackers stole over $2 million in this attack and are currently transferring the funds to Tornado Cash. The root cause of this attack is price manipulation, where the hackers used a flash loan to update the reserve number in the SDT SushiSwap address, which was then used to determine the asset price in the UZD contract.