Morpho lost about $230,000 due to oracle misconfiguration

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Cointime2024/10/14 03:48

By:Cointime

Chaos Labs founder Omer tweeted that the PAXG/USDC market on Morpho suffered a loss of about $230,000 due to an error in the oracle configuration. Specifically, the Oracle SCALE_FACTOR configuration on Morpho failed to consider the difference between USDC (6 decimal places) and PAXG (18 decimal places), which caused the PAXG price to inflate by 12 decimal places, and security monitoring may focus on the reference price rather than the calculated oracle price. The attacker ultimately deposited $350 worth of PAXG and borrowed $230,000 worth of USDC.

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