In today's #TotallyUnsurprisingNews, #Polygon-based lending protocol #0vix has been flash loan attacked in a $2m hack, by manipulating the #Aavegotchi #vGHST (staked #GHST) prices and liquidating for #USDC & #USDT.

This is why small cap assets should never be co-mingled on borrow/lending platforms. They also ran their own price oracle rather than using #Chainlink. :oof:

https://decrypt.co/138262/polygon-lending-protocol-0vix-pauses-protocol-exploit

Referenced link: https://hackernoon.com/fixing-toxic-liquidation-spirals-in-defi
Discuss on https://discu.eu/q/https://hackernoon.com/fixing-toxic-liquidation-spirals-in-defi

Originally posted by HackerNoon | Learn Any Technology / @hackernoon: http://nitter.platypush.tech/hackernoon/status/1627659344366936064#m

#0VIX has exposed a fundamental flaw shared by major DeFi lending markets in their latest research. Find out more: - cc: @OracleSummit https://hackernoon.com/fixing-toxic-liquidation-spirals-in-defi #defi #liquidation