Sturdy Finance Loses Thousands of Dollars in Attack Due to Manipulated Price Oracle

Sturdy Finance, a decentralized credit protocol, has suffered a significant loss of approximately 442 ETH, equivalent to around $800,000, in an attack caused by a manipulated price oracle. The unidentified attacker exploited a security vulnerability, taking advantage of a reentrancy flaw and draining funds from the protocol.  442 ETH worth nearly $800,000 stolen in attack Price oracles play a critical role in decentralized finance (DeFi) protocols as they provide real-world price data and are often targeted by attackers. In this case, the attacker initiated a reentrancy attack, a method frequently used to illicitly withdraw funds from DeFi protocols. This type of attack allows a function to be repeatedly executed within a single transaction before the original function call is completed, enabling the attacker to withdraw more funds than permitted.  The attacker capitalized on the ability to manipulate function calls and exploited the price oracle within Sturdy Finance. The oracle, designed […] The post Sturdy Finance Loses Thousands of Dollars in Attack Due to Manipulated Price Oracle appeared first on COINTURK NEWS.