LpdFi Protocol Attacked, Resulting in $700,000 Loss

The LpdFi protocol was attacked on August 3, resulting in a loss of approximately $700,000. The attacker borrowed around $44 million in a flash loan, artificially inflating the price of LPD tokens by 71 times on a decentralized exchange. They then used approximately $2 million worth of tokens to fabricate a deposit of about $140 million. The attacker claimed interest on the inflated position for an entire day just one second later, leading the protocol to liquidate its entire liquidity pool and pay out the stolen funds. After repaying all loans, the attacker made a profit of about $700,000 and transferred the funds through Relay and TornadoCash.

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