Morpho loses about $230,000 due to misconfiguration of the Oracle Machine

DailyNews

2024-10-14 02:20:31

X-5,75%

Odaily Planet Daily News Chaos Labs founder omer said on the X platform that the PAXG/USDC market on Morpho lost about $230,000 due to Oracle Machine configuration errors. Specifically, there was a misconfiguration of the Oracle SCALEFACTOR on Morpho, which failed to account for the difference between USDC (6 decimal places) and PAXG (18 decimal places). This led to a 12-digit inflation in the price of PAXG. The attacker deposited 350 dollars’ worth of PAXG and borrowed 230,000 dollars’ worth of USDC.

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