The Arbitrum ecological stablecoin project SperaxUSD released a report saying that an attacker increased the Token balance of his address to 9.7 billion without providing the corresponding collateral, and was able to liquidate about $300,000.
The Sperax team stated that it has identified the attacker’s account on CEX and is contacting the attacker to discuss a solution.
Currently all stablecoin USDs transactions and smart contracts have been suspended, and the vulnerability will be resolved by upgrading the smart contract next week. The liquidated amount will be recapitalized by the Sperax team prior to restarting the protocol.