Zunami Protocol Confirms Stable Coin Pools Attacked, Estimated $2.1 Million Loss

Blockchain security firm PeckShield estimates the protocol suffered over $2.1 million from the price manipulation attack .

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Decentralized Finance Protocol Zunami Protocol has advised users not to purchase Zunami Ether (zETH) or Zunami USD (UZD) stablecoins, after encountering an attack on its "zStables" pools on Curve Finance.

On August 13, Zunami confirmed on X (Twitter) that its stablecoin pools had suffered an attack, adding that the collateral remains secure as it begins an investigation into the potential exploit.

Please do not buy zETH and UZD at this time, their issue has been attacked.

— Zunami Protocol (@ZunamiProtocol) August 14, 2023

Blockchain security firm PeckShield estimates that over $2.1 million was stolen from Zumani's Curve Pool, linking the exploit to a price manipulation issue. Ironblocks, another blockchain security company, came up with a similar figure.

Hello @ZunamiProtocol Today's hack results in >$2.1M loss and there are two txs hacks involved:- tx1: https://t.co/jsOmPT62mk- tx2: https://t.co/u7YOvoS0R9

This is a price manipulation issue, which can be exploited by a don to incorrectly calculate the price as shown in the… https://t.co/yqwMVy0pCA pic.twitter.com/OfrDni7KtE< /p> — PeckShield Inc. (@peckshield) August 14, 2023

PeckShield was one of the first to detect the