The LRT-powered stablecoin protocol has been suspended because the staff investigates.
Prisma Finance, a DeFi protocol that points stablecoins backed by Ethereum Liquid Staking and Re-staking Tokens (LRT), has already been leveraged for almost $12 million.
First flagged by blockchain safety agency Cyphersthe attacker efficiently stole 3,258 ETH earlier than the protocol was launched pause By the staff. Prisma customers are suggested to revoke approval of affected good contracts.
Stolen belongings have been reallocate Three Ethereum addresses, in response to evaluation by safety agency Peckshield.
The protocol’s PRISMA token crashed by 30% following the exploit, however has since recovered a few of its losses. Its present market capitalization is $9 million. Following the breach, almost $110 million was withdrawn from the protocol, with a complete worth locked (TVL) of $127 million.
Prisma points two USD-pegged stablecoins: mkUSD and ULTRA, which may be minted in opposition to Ethereum Liquid Staked Tokens (LST) and Re-Staking Tokens (LRT) respectively. Its flagship product, mkUSD, has a market cap of $35 million, whereas the newer ULTRA has a market cap of simply over $2 million.
Prisma’s design is predicated on the design of LUSD issuer Liquidity. comfirmed On X, it is not vulnerable to the identical sort of exploit.
