Posted on May 28, 2023Read on Mirror.xyz

The jimbos protocol was hacked due to the lack of slippage control on liquidity transfer operations, and a total of 4090 ETHs were lost

In the jimbos protocol hack, 4,090 ETH (approximately $7.5 million) were stolen. This attack was due to the lack of slippage control on the liquidity transfer operation, which resulted in the protocol owned liquidity being invested in a skewed/imbalanced price range, which was used in reverse swaps for profit. According to previous news, the jimbos protocol project is suspected of being attacked. At present, the stolen funds have been transferred to the address 0x5f3591e2921d5c9291f5b224e909ab978a22ba7e on Ethereum through the cross-chain protocol, and the funds are still stored at this address so far.