Origin Defi Protocol Suffers Massive Flash Loan Attack- OUSD Stablecoin Value...
The OUSD stablecoin issuer, Origin Protocol is the latest Defi protocol to fall victim to a flash loan attack. The attack, which occurred in the early hours of Tuesday, on November 17, resulted in the disappearance of tokens worth millions of dollars. Confirming the attack, one of the project’s leaders say they are now working with exchanges in order to identify the attacker, as well as to freeze the tokens before they are liquidated. Funds Located The Origin Protocol attack follows a similar incident at Value Defi on November 14 where the criminals stole $6 million worth of tokens.....
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Blockchain project Origin Dollar (OUSD) has sustained an oracle manipulation attack. The attacker used flash loans to grab $3.25 million.
The Origin Protocol team has unveiled a compensation plan for its depositors who were adversely affected by the flash loan attack in November. According to the team, there is now a plan to provide compensation equal to 100% of the value deposited to OUSD at the time of the exploit. Two Compensation Plans Still, the team clarifies that one’s OUSD holdings before and after the hack will be a key determinant of the compensation package they will receive. In an update issued via Medium, Micah Alcorn who is the Production Engineer at Origin Protocol says: Approximately two-thirds of....
Origin Protocol has announced its yield-generating stablecoin protocol, OUSD, has been hacked and drained of at least $7 million Origin Dollar (OUSD), the yield-generating stable token launched by Origin Protocol in late-September, has been hacked to the tune of $7 million.On Nov. 17, Origin Protocol founder Matthew Liu announced the stablecoin had been hacked, noting that $1 million of the $7 million in lost funds including DAI and Ether had been deposited by Origin’s founders, employees, and the company itself.The team currently does not know the exact nature of how the exploit was....
Co-founder Josh Fraser said he hopes the compensation plan will help build trust among users as the project moves forward. Origin Protocol, a DeFi stablecoin project, will begin accepting claims from users who were affected by a $7 million exploit that occurred back in November 2020.According to a blog post from Origin on Jan. 20, the project announced it will be making good on a December promise to compensate more than 700 victims of a $7 million flash loan attack on the protocol’s Origin Dollar (OUSD).In addition, Origin users who lost more than 1,000 OUSD can make a second transaction....
A decentralized finance (defi) protocol that bragged about having flash loan attack prevention has been exploited for $6 million in DAI, in a flash loan attack. Value Defi, a yield aggregating protocol, boasted of having the “highest security” in a Nov. 13 tweet that now appears to have been deleted. The protocol claimed that its technology was capable of preventing flash loan attacks. Hardly a day later, hackers plundered Value Defi’s multi-stablecoin vault of a total of $8 million of the stablecoin DAI. The attacker returned $2 million to the protocol and pocketed $6....