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The DeFi protocol YO Protocol experienced an abnormal swap event on the Ethereum chain
Svmuu News: According to a post by BlockSec on X, the DeFi protocol YO Protocol experienced an abnormal swap event on Ethereum, where a user exchanged approximately $3.84 million worth of stkGHO for only about $122,000 in USDC. Analysis indicates that the incident was caused by a combination of two factors:1) The initiator submitted an incorrect estimated output value, rendering the slippage protection ineffective; 2) The transaction path was configured abnormally, routing through pools with high fees and low liquidity, resulting in massive gas fee extraction and price impact. The team has since purchased GHO and re-deposited stkGHO in an attempt to remedy the situation.
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