SlowMist: The Core Issue of Usual Protocol's Hack Stems from the Usual Vault System
According to SlowMist monitoring, the Usual protocol suffered a complex arbitrage attack. Analysis shows that the attacker exploited the price difference between the protocol's internal mechanism and the external market. The core issue stemmed from the Usual Vault system, which allows USD0++ and USD0 tokens to be exchanged at a fixed 1:1 ratio, yet these same tokens trade at different prices on external decentralized exchanges. The attacker cleverly created a custom liquidity pool and manipulated the trading path, causing the Vault to release USD0 tokens without receiving the expected sUSDS collateral. Subsequently, the attacker sold the acquired USD0 tokens on the external market at a price higher than the internal exchange rate, thereby gaining arbitrage profits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Arista CEO and Chairperson Jayshree Ullal sells Arista common shares worth $2.64 million
York Space Systems CEO Wallinger to present at Jefferies Global Industrials Conference
Vale names Heloisa Bedicks financial specialist for Audit and Risks Committee through 2027 AGM
Movida adopts indemnity policy for executives, directors and board members
