Hackers Steal $30M From Liquidity Platform Spartan Protocol
Main page News, Hacker Attack

A hacker or group of hackers have exploited a vulnerability in the liquidity platform's protocol Spartan Protocol to steal $30 million.

As confirmed by the project via its official Twitter account, the protocol, which runs on the Binance Smart Chain, has lost $30 million as the result of an attack on its liquidity pool last Saturday.

The attack reportedly exploited a "flawed liquidity share calculation" in the SPARTA/WBNB liquidity pool, which enabled the attacker to withdraw the funds.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Blockchain security firm PeckShield has said about it:

"In particular, the specific hack inflates the asset balance of the pool before burning the same amount of pool tokens to claim an unnecessarily large amount of underlying assets. The consequence of this attack results in more than $30M loss from the affected pool."

The price of SPARTA, the native token of the project, has lost 30% of its value after the news on the attack was known.

Read also:
Please describe the error