BTC $63,011.92 +0.10%
ETH $1,880.58 -0.00%
BNB $606.90 -0.07%
XRP $1.00 +0.09%
SOL $75.41 +0.14%
TRX $0.3307 -0.39%
DOGE $0.0696 -0.62%
ADA $0.1768 -1.70%
BCH $203.45 -0.94%
LINK $9.43 +3.88%
HYPE $56.79 +0.89%
AAVE $86.11 -0.34%
SUI $0.6773 -0.78%
XLM $0.1575 -0.18%
ZEC $487.63 -0.86%
BTC $63,011.92 +0.10%
ETH $1,880.58 -0.00%
BNB $606.90 -0.07%
XRP $1.00 +0.09%
SOL $75.41 +0.14%
TRX $0.3307 -0.39%
DOGE $0.0696 -0.62%
ADA $0.1768 -1.70%
BCH $203.45 -0.94%
LINK $9.43 +3.88%
HYPE $56.79 +0.89%
AAVE $86.11 -0.34%
SUI $0.6773 -0.78%
XLM $0.1575 -0.18%
ZEC $487.63 -0.86%

Morpho lost approximately $230,000 due to an oracle configuration error

2024-10-14 10:41:25

ChainCatcher news, Chaos Labs founder Omer tweeted that the PAXG/USDC market on Morpho lost approximately $230,000 due to an oracle configuration error.

Specifically, the Oracle SCALE_FACTOR configuration on Morpho failed to account for the difference between USDC (6 decimal places) and PAXG (18 decimal places), which resulted in a 12-digit inflation of the PAXG price, and the security monitoring may have focused on the reference price rather than the calculated oracle price. Ultimately, the attacker deposited $350 worth of PAXG and borrowed $230,000 worth of USDC.

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