.tender_fi's token plunged over 30% as the protocol paused borrowing after a white hat attacker managed to borrow $1.59 million despite depositing just one $GMX token worth $71. By oknightcrypto.
The token, which trades mostly on decentralized exchange Uniswap, is changing hands at $1.99, down from Monday's high of $3.56.
"We are investigating an unusual amount of borrows that came through the protocol- in the meantime, we have paused all borrowing. Thank you for your patience," the Tender.fi team Blockchain sleuth Lookonchain said that due to a misconfigured pricing oracle, a white hat attacker borrowed $1.59 million in assets despite only depositing one GMX token worth $71.
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