The sentiment is known to be an undercollateralized money-lending tool, which exploited crypto recently with over $500,000.The April 4th study shows. A surprising amount was transferred perhaps, causing damage. They are using Synapse Bridge for transactions. More than $536,000 was transferred through this bridge. They are using this as a combat weapon. The Ethereum blockchain studies the aforementioned amount.
Another Source Is Draining Coins From Sentiment
Synapse Bridge perhaps uses another link called Arbitrum transactions which also debited coins from Sentiment. It is also suffering along with other chains. The synapse bridge let the transaction happen of 536,738.410031 in USD coins.
The Ethereum study shows the attack has been named sentimentxyz exploiter. Arbiscan named it.
It is aware of their issue, and they are also working on their protocol. The team of sentiment was recently announced on Twitter and updated the user. They will immediately provide a solution. They have requested the user to be patient and keep track. They have not yet made any statement on Twitter about what steps they are taking to provide a solution.
The attack was not expected, and the team detected that there had been a loophole that led to the disaster. The attacker perhaps created a sentiment BeaconProxy contract to make all the transactions. They changed the balances in a pool. Where they made a series of borrows in the contract.
Mikhail Lazarev has studied the case and is also a Gearbox developer. He suggested that the attacker used a bug to make all the transactions that transferred all coins to USD to their account. This happened even before the sentiment updated their prices. Three of their contracts were made, and one failed even before accessing it.
