A new year, a new hack. This time - it was a decentralized trading platform Tinyman that suffered a smart contract exploit.
addresses and deposited a seed fund for the breach. To execute the attack, the perpetrators essentially targeted the pools and started to swap a portion of their funds and minted Pool Tokens.
According to the platform, this was favorable for the perpetrators as the “gobtc asset” was significantly more valuable than Algorand’s native token ALGO. They immediately swapped against it to rake in more funds and carry on with the exploit.
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