🎉 Gate xStocks Trading is Now Live! Spot, Futures, and Alpha Zone – All Open!
📝 Share your trading experience or screenshots on Gate Square to unlock $1,000 rewards!
🎁 5 top Square creators * $100 Futures Voucher
🎉 Share your post on X – Top 10 posts by views * extra $50
How to Participate:
1️⃣ Follow Gate_Square
2️⃣ Make an original post (at least 20 words) with #Gate xStocks Trading Share#
3️⃣ If you share on Twitter, submit post link here: https://www.gate.com/questionnaire/6854
Note: You may submit the form multiple times. More posts, higher chances to win!
📅 July 3, 7:00 – July 9,
The Resupply stablecoin protocol was hacked, losing 9.5 million USD.
The Resupply stablecoin protocol has been attacked, resulting in losses of approximately 9.5 million USD due to currency exchange rate manipulation, according to analysis from security experts.
The attack targeted cvcrvUSD — the wrapped version of Curve USD (crvUSD) staked in Convex Finance. The attacker sent a "donation" to drive the price of cvcrvUSD to spike. The Resupply smart contract uses this price to calculate the exchange rate, causing the pricing system to become distorted.
The attacker then called the borrow function and borrowed 10 million reUSD with just 1 wei cvcrvUSD as collateral. Resupply confirmed the incident and stated that the affected contract has been suspended.