Abnormal Swap event occurred on the DeFi protocol YO Protocol on the Ethereum chain
According to Odaily, BlockSec posted on the X platform that the DeFi protocol YO Protocol experienced an abnormal Swap event on Ethereum, where a user exchanged approximately $3.84 million worth of stkGHO for only about $122,000 USDC. Analysis indicates that the incident was caused by the combination of two factors: 1) The initiator submitted an incorrect estimated output value, rendering slippage protection ineffective; 2) The transaction path was set abnormally, passing through pools with high fees and low liquidity, resulting in significant fee extraction and price impact. The team has now purchased GHO and re-deposited it into stkGHO in an attempt to remedy the situation.
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