Decentralized finance (DeFI) protocol bZx has suffered a second attack, with a hacker this time making over $630,000 worth of ether thanks to a flash loan that manipulated the price of sUSD.
The attack seemingly saw a hacker take out a flash loan for 7,500 ETH and use half of it to buy the sUSD stablecoin close to the $1 mark. The funds were then subsequently used on bZx as collateral, and part of the initial loan was used to buy more sUSD on the Kyber and Uniswap exchanges to drive its price to over $2.
This way the attacker managed to take out a larger loan and borrow nearly 6,800 ETH on bZx. The funds were used to repay the original flash loan. His total profit was of 2,378 ETH, at press time worth over $630,000.
BTC has been trading sideways at the price of $9.712. Anyway, I found mini sell signal due to the breakout of the mini Pitchfork channel to the downside.
Downward targets are set at the price of $9.450 and $9.135.
MACD oscillator is showing neutral stance but the slow line made new low in the background, which is strong sign of selling pressure.
Major resistance is set at the price of $10.000
Support levels are seen at the price of $9.450 and $9.135
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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