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Web3 run time security platform

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Hexagate is a Web3 run time security platform that helps wallet providers, protocols and aggregators to protect their users and asset from theft originating from phishing, fraud, scams and exploits.

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LpdFi Protocol Suffers Flash Loan Manipulation Attack, Attacker Profits Approximately $700,000

According to Chainalysis, Hexagate detected that the LpdFi protocol suffered an attack of approximately $700,000. The attacker first utilized approximately $44 million in flash loans to artificially inflate the price of LPD tokens on decentralized exchanges to approximately 71 times, subsequently using only approximately $2 million worth of tokens to forge approximately $140 million in deposit positions within the protocol.

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LpdFi Protocol Suffers Flash Loan Manipulation Attack, Attacker Profits Approximately $700,000

According to Chainalysis, Hexagate detected that the LpdFi protocol suffered an attack of approximately $700,000. The attacker first utilized approximately $44 million in flash loans to artificially inflate the price of LPD tokens on decentralized exchanges to approximately 71 times, subsequently using only approximately $2 million worth of tokens to forge approximately $140 million in deposit positions within the protocol.