According to CertiK's monitoring, an unverified contract associated with the decentralized exchange TMX was attacked on the Arbitrum network, resulting in a loss of approximately $1.4 million. The hacker repeatedly executed a strategy involving minting and staking TMX LP with USDT, swapping USDT for USDG, unstaking, and selling the USDG. By repeating this process multiple times, the attacker drained the contract's USDT, wrapped SOL, and WETH assets.
CertiK Reports $1.4M Loss in DeFi Exchange TMX Smart Contract Attack
TechFlowShare
Summary
A DeFi exploit occurred on TMX, a decentralized exchange, when a smart contract on Arbitrum was attacked, resulting in a $1.4 million loss. The hacker employed a strategy involving repeated minting and staking of TMX LP with USDT, swapping for USDG, unstaking, and then selling. The attack drained USDT, wrapped SOL, and WETH from the contract. The exchange hack revealed vulnerabilities in the platform's liquidity mechanisms.
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