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Summer.fi Exploited for $6M via Flash Loan Vulnerability

GateNews
Security Incidents
USDC-0.01%
CRV0.18%
MORPHO4.07%
According to Blockaid, PeckShield, and CertiK, Summer.fi lost approximately $6 million on July 6 after attackers exploited a flash loan vulnerability to manipulate vault share accounting. The LazyVault_LowerRisk_USDC vault was the primary target. Security researchers determined the attacker borrowed $65.4 million via flash loan and manipulated liquidity across Curve's DAI/USDC pools and Morpho V2 vaults before extracting $6 million in profit. The stolen funds were converted to DAI and transferred to an attacker-controlled address. The flash loan was repaid within the same transaction, requiring no upfront capital.
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