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Slippage vulnerability + deleting 55 intermediate accounts—so all of it is fully exposed on-chain, and you think you can stay hidden?
The attacker set up fake token pools on Ref Finance and injected liquidity, exploiting slippage vulnerabilities to direct borrowed debt tokens to controlled pools, leading to large-scale liquidations and depletion of reserves.
To conceal their identity, they deleted 55 intermediary accounts.
Currently, $3.36M USDC and 156,400 NEAR have been recovered, and $4.34 million USDT (Tether $1.56M, NEAR Intents $3.29M) have been frozen.
The protocol has been paused, and efforts are underway in cooperation with exchanges and law enforcement.