A $240K flash loan attack drained 1.96M WSEI after an accidental transfer funded the exploit.
The incident was caused by human error, not a smart contract bug.
Sei’s March SIP-3 upgrade will end support for USDC.n.
A flash loan attack on the Sei Network drained roughly $240,000 worth of WSEI from the Synnax contract, according to blockchain security firm BlockSec Phalcon. The attacker borrowed 1.96 million WSEI through a flash loan and exited without repayment.
The exploit was not driven by a contract flaw. It was enabled by a mistaken transfer that occurred three blocks earlier.
How the Attack Happened?
Wallet “0x9748…a714” accidentally sent funds into the Synnax contract, unintentionally seeding liquidity that the attacker later used. Two transactions, labeled TX1 and TX2 by BlockSec, completed the attack path.
The sequence was simple. Funds we…
Read The Full Article Sei Network Faces $240K Flash Loan Attack, What’s Next? On Coin Edition.
