More than 4,090 $ETH stolen by hackers via a sophisticated attack on a decentralized protocol
protocol"Jimbo's Protocol" has reported a loss of 4,090 ETH, equivalent to approximately $7.5 million at the current Ethereum price. This significant breach was not the result of typical hacking strategies, but a flaw within the protocol itself — specifically, a lack of slippage control in liquidity-shiftingTo understand this, we must first define slippage.
This discrepancy typically occurs during periods of high volatility when market orders are used, and prices can change rapidly within seconds., the issue was not slippage per se but a lack of control over it. This deficiency allowed for the protocol-owned liquidity to be invested into a skewed or imbalanced price range.
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