Dough Finance Loses $1.8 Million in Flash Loan Attack Amid Rising Crypto Security Breaches

Decentralized finance (DeFi) protocol Dough Finance lost $1.8 million in digital assets following a flash loan attack. On July 12, Web3 security firm Cyvers flagged multiple suspicious transactions, collaborating with lending protocol Aave to check for potential impacts on its pools. Cyvers confirmed that Aave’s pools were not affected. However, Dough Finance bore the brunt of the attack. Cyvers reported that the attacker used the zero-knowledge (ZK) protocol Railgun to fund their operation, swapping the stolen USD Coin for Ether. The total amount stolen was 608 ETH, equivalent to approximately $1.8 million. Olympix, another Web3 security provider, explained that the

Source: CryptoIntelligence