A DeFi whale executed a flash loan attack that led to the liquidation of 700 WBTC, causing a significant financial loss of $21.68 million. Flash loan attacks have become a notable concern in decentralized finance, where attackers exploit vulnerabilities in smart contracts to manipulate markets. In this instance, the whale’s actions resulted in the liquidation of a substantial amount of wrapped Bitcoin (WBTC). The incident highlights ongoing risks associated with DeFi platforms, where large transactions can lead to severe market impacts. As the DeFi space continues to grow, such attacks raise questions about security measures and the need for improved protocols to protect investors.
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