WOOFi confirms $8.75 million exploit on its Arbitrum market

WOOFi has released a post-mortem report confirming an $8.75 million exploit on its lending market on Arbitrum.
The decentralized exchange has offered a 10% whitehat bounty to the attacker.Decentralized exchange WOOFi suffered an $8.75 million exploit that targeted its lending market on Arbitrum, according to a report the platform released on Wednesday.
In a post-mortem report, the WOOFi team noted that the attacker manipulated its Synthetic Proactive Market Making (sPMM) algorithm.
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