The attacker received 370,000 USDC as a result of an attack on Nereus Finance

The attacker received 370,000 USDC as a result of an attack on Nereus Finance

The attacker received 370,000 USDC from the attack on Nereus Finance

Avalanche-based Nereus Finance DeFi platform was arbitrated with a 51 million USDC flash loan. The hacker's production was approximately 370,000 USDC, calculated in CertiK. 

With borrowed funds, the attacker manipulated the price of AVAX tokens on Nereus. After the completion of arbitrage transactions and the return of the loan, about 370,000 USDC remained in his address.

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NXUSD is an algorithmic stablecoin pegged to the US dollar by Nereus Finance. Against the backdrop of the incident, asset quotes fell to around $0.89. At the time of writing, the token has not regained parity with the underlying asset and is trading at around $0.96 (CoinGecko).

The attacker received 370,000 USDC as a result of the attack on Nereus Finance

Data: CoinGecko .

Recall that the US Federal Bureau of Investigation named instant credit initiation as one of the three most popular attack vectors for DeFi projects.

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