The YO Protocol experienced abnormal swap transactions, with approximately 3.84 million dollars of stkGHO only exchanging for 122,000 dollars of USDC
According to market news, the DeFi protocol YO Protocol experienced an abnormal Swap event on Ethereum, where users exchanged approximately $3.84 million worth of stkGHO for only about $122,000 in USDC. Analysis indicates that the incident was triggered by two overlapping factors: 1) The estimated output value submitted by the initiator was incorrect, causing the slippage protection to effectively fail; 2) The trading path was set up abnormally, passing through high-fee, low-liquidity pools, resulting in significant fee extraction and price impact. The team has now purchased GHO and re-deposited stkGHO in an attempt to remedy the situation.