In a recent Tweet posted on their official account today, August 14th, the decentralized financial protocol Zunami confirmed that they had experienced an attack on the “zStables” group within Curve Finance.
To provide some context, the blockchain security company PeckShield estimated that over 2.1 million USD had been stolen from Zumani’s Curve Pool on August 13th, indicating that the exploitation was related to price manipulation issues. The blockchain security firm Ironblocks also came up with a similar figure.
According to investigations, PeckShield discovered the vulnerability in Curve on August 13th at 10:47 AM (US time), which was confirmed by Zunami about 20 minutes later. The collateral on the Curve group remains secure, and currently, the Zunami team is actively investigating the incident.
At the moment, many believe that this flash loan attack involving price manipulation could have affected Zunami’s zETH and UZD.
Zunami, known for being a synthetic revenue protocol, allows users to deposit stablecoins to earn profits, with major stablecoin groups residing within Curve.