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The Resupply stablecoin protocol was hacked, losing 9.5 million USD.
The Resupply stablecoin protocol has been attacked, resulting in losses of approximately 9.5 million USD due to currency exchange rate manipulation, according to analysis from security experts.
The attack targeted cvcrvUSD — the wrapped version of Curve USD (crvUSD) staked in Convex Finance. The attacker sent a "donation" to drive the price of cvcrvUSD to spike. The Resupply smart contract uses this price to calculate the exchange rate, causing the pricing system to become distorted.
The attacker then called the borrow function and borrowed 10 million reUSD with just 1 wei cvcrvUSD as collateral. Resupply confirmed the incident and stated that the affected contract has been suspended.