ousd-439OUSDMatthew Liu, co-founder of Origin Protocol (OGN), a decentralized sharing economy protocol, wrote an article to disclose the details of the lightning loan attack on the US dollar stable currency Origin Dollar (OUSD). So far, the attack has caused about 7 million U.S. dollars in losses, including more than 1 million U.S. dollars deposited by Origin and its founders and employees. Currently, Origin is determining the cause of the vulnerability and whether it can recover the funds. Origin reminded, "Vault deposits are currently disabled. Please do not purchase OUSD on Uniswap or Sushiswap." The stablecoin OUSD was exploited for $5.5 million in ETH and approximately $2.2 million in DAI.

Detail Analysis

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OUSD

Submit Incident Report

Date:

Status:

Count:

Contributor:

November 17, 2020

Verified

zerofriction.io

Loss Amount:

7,000,000

Recovered Amount:

Currency:

Dollars, ETH, DAI

KYC By:

Audit By:

None

Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

Key Indicators

Platform:

Type:

Category:

Method:

Ethereum

Protocol

Flash Loans

Extended Method:

Flash loan attack

Data Sources:

https://www.financemagnates.com/cryptocurrency/news/origin-protocol-confirms-7-million-hack/

Matthew Liu, co-founder of Origin Protocol (OGN), a decentralized sharing economy protocol, wrote an article to disclose the details of the lightning loan attack on the US dollar stable currency Origin Dollar (OUSD). So far, the attack has caused about 7 million U.S. dollars in losses, including more than 1 million U.S. dollars deposited by Origin and its founders and employees. Currently, Origin is determining the cause of the vulnerability and whether it can recover the funds. Origin reminded, "Vault deposits are currently disabled. Please do not purchase OUSD on Uniswap or Sushiswap." The stablecoin OUSD was exploited for $5.5 million in ETH and approximately $2.2 million in DAI.

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