SlowMist: The Core Issue of Usual Protocol's Hack Stems from the Usual Vault System
According to SlowMist monitoring, the Usual protocol suffered a complex arbitrage attack. Analysis shows that the attacker exploited the price difference between the protocol's internal mechanism and the external market. The core issue stemmed from the Usual Vault system, which allows USD0++ and USD0 tokens to be exchanged at a fixed 1:1 ratio, yet these same tokens trade at different prices on external decentralized exchanges. The attacker cleverly created a custom liquidity pool and manipulated the trading path, causing the Vault to release USD0 tokens without receiving the expected sUSDS collateral. Subsequently, the attacker sold the acquired USD0 tokens on the external market at a price higher than the internal exchange rate, thereby gaining arbitrage profits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Whale James Wynn: Altcoin Season Won't Arrive Before Bitcoin Breaks Its All-Time High
INFINIT launches badge incentive system with a 400 million INFINIT Stones reward pool
Overview of Important Developments on the Evening of May 29
Analyst: Upward Revision of U.S. GDP Won't Change Fed's Wait-and-See Stance
Trending news
MoreCrypto prices
More








