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Sonne Finance Velodrome Exploit

Exploit
Sonne • sUSDC
Date
May 14, 2024
Est. Loss
$20.00M
Chain
base
Direct vault exploit
No

Taxonomy (scoring alignment)

Category: strategy protocolMechanism: oracle manipulationMaps to: protocol_risk, strategy
Affected assets: USDC, USDbC
Donation attack on Velodrome-based lending markets. Attacker donated vAMM tokens to manipulate oracle, then borrowed ~$20M. Sonne paused and reimbursed users.
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