An exploit on the Base blockchain revealed major vulnerabilities leading to $1M in stolen funds and raising security alarms in DeFi.
An exploit involving unverified lending contracts on the Base blockchain resulted in the theft of about $1 million.
The incident, which took place over several hours, was reported by blockchain security firm Cyvers Alerts in an X post on Oct. 25.
The attacker exploited a vulnerability in the smart contracts related to Wrapped Ether (WETH), successfully manipulated the price and then siphoned the funds.
