Avalanche Tranche Vault reportedly drained of $1.01M in flash loan exploit
CIE News ·
Based on reporting by The Defiant; not yet independently confirmed.
An Avalanche-based Tranche Vault linked to Valinor Digital was reportedly drained of approximately $1.01 million USDC via a flash loan exploit on October 28.
A Tranche Vault associated with Valinor Digital on the Avalanche blockchain was reportedly exploited for approximately $1.01 million in USD Coin (USDC) on October 28, according to KuCoin. Security firm Blockaid detected that an attacker leveraged flash loans to mint inflated layered shares before redeeming the collateral from the contract. The breach occurred at 00:00 UTC on October 28 and reduced the victim pool's liquidity to zero, leaving no remaining balance for user withdrawals while the incident remains under active review.
Key facts
- ~$1.01M USDC drained
- Avalanche blockchain
- Flash loan exploit
- Under active review
Read the original at The Defiant