DeFi protocols declare losses as attackers exploit LUNA price feed discrepancy By Cointelegraph


DeFi protocols declare losses as attackers exploit LUNA price feed discrepancy

The seemingly endless freefall of (LUNA) affected two decentralized finance (DeFi) protocols due to a price discrepancy, as the Chainlink price feed for LUNA gets suspended over extreme market conditions.

Avalanche-based liquidity protocol Blizz Finance reported that as the price of LUNA was stuck at $0.10, attackers were able to deposit millions of LUNA to “borrow all the collateral.” As a result, Blizz Finance mentioned that its protocol was drained before its team could pause. The team apologized to those who were affected.