Cashio developer 0xGhostChain took to Twitter to warn people "not to mint any CASH," adding that the team "are investigating the issue and we believe we have found the root cause. Please withdraw your funds from pools. We will publish a postmortem ASAP."
According to DeFiLlama, roughly $28 million of value has been drained from Cashio's protocol due to the exploit. Still, Samczsun, a research partner at Web3 investment firm Paradigm, shared a bleaker picture on Twitter today.
The researcher wrote: "Another day, another Solana fake account exploit. This time, Cashio App lost around $50M (based on a quick skim). How did this happen?"
Last summer, attackers ran the price of SafeDollar's eponymous dollar-pegged stablecoin to zero after looting about $250,000 worth of stablecoins from the platform's liquidity pools, then fenced the stolen coins on PolyDex.
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