DeFi protocol Inverse Finance suffered a flash loan attack that resulted in a loss of $1.2 million.
Inverse Finance suffered a flash loan attack today. According to on-chain data, the attack was carried out at 11:47 am using 27,000 wrapped Bitcoins. Among the stolen assets are 53 BTC and 100,000 USDT.
The protocol released an announcement on the subject on its Twitter account. Stating that they temporarily paused their borrowing process, the team also stated that they were investigating the incident.
Inverse has temporarily paused borrows following an incident this morning where DOLA was removed from our money market, Frontier. We are investigating the incident however no user funds were taken or were at risk. We are investigating and will provide more details soon.
— Inverse+ (@InverseFinance) June 16, 2022
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