Mirror Protocol suffers new exploit and could be drained in hours (via Timccopeland)
Mirror Protocol has been exploited for more than $2 million, with several pools drained.
Mirror protocol allows users to take long or short positions on tech stocks using synthetic assets. It's running on the old Terra blockchain — now called Terra Classic — which was replaced by a new blockchain after the collapse of its main stablecoin TerraUSD and its sister token Luna, now called Luna Classic . Despite being shelved, the old blockchain continues to run.
The remaining pools are all tied to stocks and aren't available for trading until pre-market trading opens at 4:00 AM ET. At that point, the exploit may be used for the remaining pools — unless the bug is fixed in time.The issue appears to be related to the protocol's oracle. An oracle is the way a protocol collects data, including from the real world. In this case, the oracles fetch data relating to the price of stocks and certain cryptocurrencies.