PANews reported on January 13th that, according to BlockSec, the DeFi protocol YO Protocol experienced an abnormal swap event on Ethereum, where users exchangedPANews reported on January 13th that, according to BlockSec, the DeFi protocol YO Protocol experienced an abnormal swap event on Ethereum, where users exchanged
YO Protocol suffered an abnormal swap transaction, with approximately $3.84 million worth of stkGHO being exchanged for only $122,000 worth of USDC.
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PANews reported on January 13th that, according to BlockSec, the DeFi protocol YO Protocol experienced an abnormal swap event on Ethereum, where users exchanged approximately $3.84 million worth of stkGHO for only about $122,000 worth of USDC. Analysis suggests the incident was caused by a combination of factors: 1) the initiator submitted an incorrect estimated output value, rendering slippage protection ineffective; 2) an abnormal transaction path configuration, passing through a high-fee, low-liquidity pool, resulting in significant fee extraction and price fluctuations. The team has since purchased GHO and re-deposited it into stkGHO in an attempt to mitigate the damage.
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