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Difference between revisions of "LUNA Collapse in May 2022"
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== Chainlink Oracle failure == | == Chainlink Oracle failure == | ||
On the 12th of May 2022, Venus on BSC and Blizz Finance on Avalanche were exploited for $13M and $6M respectively. It was revealed the LUNA oracle had a lower limit of $0.10. When the price of LUNA crashed to $0.00005, attackers were able to provide collateral and borrow a lot more than it was worth. | On the 12th of May 2022, [[Venus]] on BSC and Blizz Finance on Avalanche were exploited for $13M and $6M respectively. It was revealed the LUNA oracle had a lower limit of $0.10. When the price of LUNA crashed to $0.00005, attackers were able to provide collateral and borrow a lot more than it was worth.<ref>https://rekt.news/venus-blizz-rekt/</ref> | ||
== Aftermath == | == Aftermath == | ||