Threat Management

More than $7.5M stolen in Jimbos Protocol flash loan attack

Arbitrum-based decentralized finance project Jimbos Protocol had more than $7.5 million worth of Ethereum stolen following a flash loan attack that involved the exploitation of a vulnerability in its code, Cryptonews reports. Numerous security experts and on-chain analysts were immediately sought by Jimbos Protocol after the intrusion, resulting in the quick identification of "promising leads, and one in particular," who may have been behind the attack. Jimbos Protocol then reached out to the suspected hacker to reach a compromise. "To the attacker: keep a fast $800k payday, and live to tell the tale. We won't pursue you if you send back the 90%. But if you don't, we won't stop until you're behind bars," said Jimbos Protocol in a tweet. Such an incident comes two months after DeFi platform Euler Finance had been impacted by a flash loan attack that resulted in the theft of nearly $200 million worth of cryptocurrency, most of which have been returned by the attacker.

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