This morning Inverse Finance's money market, Anchor, was subject to a capital-intensive manipulation of the INV/ETH price oracle

02 Apr 2022, 15:48

This morning Inverse Finance's money market, Anchor, was subject to a capital-intensive manipulation of the INV/ETH price oracle on Sushiswap, resulting in a sharp rise in the price of INV which subsequently enabled the attacker to borrow $15.6 million in DOLA, ETH, WBTC, and YFI. The manipulation was not a flash loan attack and was un-related to Inverse's smart contract or front end code. All future borrows on Anchor are temporarily paused. Some additional updates: 1. The plan to be proposed to governance is to ensure all wallets impacted by the price manipulation are repaid 100%. We have multiple avenues for accomplishing this and will provide updates as the DAO discusses our options. 2. There is no plan or need to mint additional INV as part of the process to repay wallet holders. 3. Inverse Finance DAO will fiercely defend DOLA's USD peg throughout this process using the DOLA Fed monetary policy. 4. The person or persons behind the price manipulation are encouraged to reach out via Twitter DM or Discord and discuss a generous bounty in exchange for returning the borrowed funds. 👉🏻 We will continue to update the Inverse community. For updates and more information, visit the #mission control channel in the Inverse Finance discord. If you believe you can help contribute to this effort, please reach out via Twitter DM or Discord. ⏰ We will host a Twitter spaces event today at 2pm EDT/ 6pm UTC to share and discuss with the Inverse community.