2023.01.17 - Midas Capital

The Polygon-based protocol Midas Capital was exploited for 663,101 $MATIC, worth around $660K. WMATIC-stMATIC Curve LP token was recently added by Middas Capital for use as collateral. Due to a combination of reentrancy vulnerability in these tokens and a miscalculation of the LP token price, the attacker was able to make a price manipulation, inflate the LP token price and borrow against it. The exploiter then transferred the stolen funds to multiple addresses. The Midas Capital team paused the borrowing on the Jarvis Polygon pool.