Meta Pool Faces $27 Million Loss Due to Smart Contract Exploit
On Tuesday, Meta Pool experienced a smart contract exploit, resulting in a loss of $27 million. Key details include:
- A bug in the staking contract allowed users to mint mpETH tokens freely.
- The attacker minted tokens valued at $27 million but could only swap $25,000 due to low liquidity on Uniswap.
- Prior to the exploit, an account labeled "MEV Frontrunner Yoink" removed 90 ETH from the pool.
- Meta Pool has not provided updates regarding the incident.
- Total value locked (TVL) remains at $75 million, while the MPDAO governance token trades at $0.02 with minimal volume.
- In May, $302 million was lost to various hacks and scams in the crypto space.