The user bought 4.3 bitcoins on the Saddle.finance platform right after its launch. The service sold him coins 12 times cheaper than the market rate
An unknown trader earned $ 150 thousand in cryptocurrency in one operation, having invested only $ 13 thousand.It happened yesterday, January 19, on the DeFi platform Saddle.finance immediately after its launch. The new service offers the possibility of exchange between synthetic bitcoins – derivatives, the rate of which is tied to the BTC rate.
Saddle.finance added the ability to exchange between tBTC, wBTC, sBTC and renBTC tokens. But right after the launch of the mechanism, there may have been a failure that affected the rates of synthetic bitcoins on the platform. In relation to each other, they should cost as one to one, but for some unknown reason the trader was able to buy 4,362 wBTC for 0,343 sBTC.
Thus, the user exchanged $ 13 thousand for $ 163 thousand, increasing his capital by 1150% in one operation. This transaction was recorded by the observer of the Etherscan.io blockchain, the first to report it on the DEFI Scam Check Telegram channel.
At the end of December, DeFi project Grap.Finance attacked another DeFi project, Cover. The hackers exploited the platform vulnerability and issued 40 quintillion COVER tokens. This led to a drop in the coin rate to $ 0.