Lodestar Finance exploited in a flash loan attack

On Lodestar's Twitter account, they uploaded messages explaining the flow of the attack, stating that the attacker first manipulated the exchange rate of the plvGLP contract to 1.83 GLP per plvGLP, an exploit that by itself would not be profitable.

The attacker provided plvGLP collateral to Lodestar and borrowed all available liquidity, cashing out part of the funds, until the collateralization ratio mechanism prevented a full settlement of the plvGLP.

The platform noted that after the hack, several plvGLP holders also took advantage of the opportunity and cashed out at 1.83 glp per plvGLP." The hacker was able to burn just over 3 million in plvGLP, making a profit on the stolen funds on Lodestar, minus the plvGLP he burned.

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