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Morpho Steakhouse Oracle Manipulation

Exploit
Morpho • Steakhouse USDC0xbb5dd2cd…DDEtherscan
Date
June 6, 2024
Est. Loss
$20.00M
Chain
eth
Direct vault exploit
No

Taxonomy (scoring alignment)

Category: strategy protocolMechanism: oracle manipulationMaps to: protocol_risk, strategy
Affected assets: USDC
Oracle manipulation allowed attacker to borrow against inflated collateral. ~$20M in bad debt. Morpho paused markets and worked with whitehat to recover funds.
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