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Zest Protocol: User funds are not affected, the protocol is suspended and is being re-audited

Zest Protocol: User funds are not affected, the protocol is suspended and is being re-audited

2024/04/12 15:07
STX+0.34%

According to news on April 12, Stacks ecological decentralized lending protocol Zest Protocol released a protocol security update and announced that the protocol has suspended operations until further notice. Users’ capital positions will not be affected until the protocol is restarted. Zest Protocol suffered an attack on April 11. The attacker artificially manipulated the value of the collateral by duplicating entries in the collateral list, and then withdrew far more STX than it should have in 5 lending operations. The Zest team immediately froze the contract after discovering the attack. stSTX funds were not affected. The attacker stole a total of 324,000 STX. This loss will be compensated by the Zest treasury.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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