CandleFocus Coinbase's L2 Chain Base Attacked, About $1 Million Lost
2024-10-25
Author: Content Editor
Crypto platform Coinbase's Layer 2 network 'Base' chain experienced a price manipulation attack on an unverified loan contract, resulting in a loss of $1 million. The attacker manipulated the price of WETH and Sui tokens, gaining approximately $1 million tokens through excessive borrowing. This is the second incident of contract manipulation reported by CertiK within two days. Base has not yet commented on the matter. The platform is set to launch permissionless Fault Proofs on October 30 to enhance security and allow users to monitor and challenge invalid withdrawals.
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