The liquidity staking protocol Meta Pool suffered a hack leading to losses of over $133,000 due to a vulnerability in the mpETH contract.
Overview of the Exploit
Meta Pool reported that the incident resulted in unauthorized token minting and was identified through early detection systems with support from blockchain security firm Blocksec.
Details of the Incident
The attackers managed to mint 9,705 mpETH tokens by exploiting a vulnerability in the mint() function of the mpETH contract. This led to losses of 52.5 ETH, equivalent to roughly $133,000.
Response and Aftermath
The Meta Pool team confirmed that the incident did not affect the initially staked 913 ETH through the mpETH contract. The protocol also confirmed the security of its staking contracts on other platforms. A full post-mortem and recovery plan is expected within 48 hours.
The incident with Meta Pool highlights the importance of security in DeFi protocols. As protocols continue to face security challenges, safeguarding user funds remains a priority.
