Security Incident · Arbitrum Ecosystem
WOOFi Flash Loan Attack: $8.75M Reported Loss
The sPMM algorithm controlling the pricing of WOOFi trades on DEX WOOFi was exploited on Arbitrum.
- Reported loss
- $ 8,750,000
- Attack category
- Flash Loan Attack
Incident Overview
The exploit consisted of a sequence of flash loans that took advantage of low liquidity to manipulate the price of WOO in order to repay the flash loans at a cheaper price. The exploiter repeated this attack 3 times within a very short period of time, which netted about $8.75m in profits after returning the flash loans.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.