Avalanche Tranche Vault Drained of 1.01 Million USDC
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Blockaid said an attacker used a flash loan to mint inflated tranche shares and withdraw 1.01 million USDC from a vault on Avalanche.
A tranche vault on Avalanche lost 1.01 million USDC in an exploit, according to a report by The Defiant citing Blockaid.
Blockaid said the attacker used a flash loan to create inflated tranche shares, then redeemed those shares to withdraw USDC held in the vault.
A subsequent balance check found no USDC remaining in the identified vault contract. The report did not provide further details on recovery efforts.
Source: The Defiant
