Ethereum's Ploutus Protocol Suffers $390,000 Loss Due to Oracle Misconfiguration

A liquidity pool on the Ethereum-based Ploutus protocol was attacked, resulting in a loss of approximately $390,000. According to Odaily, the incident occurred due to a misconfiguration in the oracle setup, which incorrectly linked the USDC price to Chainlink's BTC/USD feed, causing a significant price deviation. The attacker exploited this vulnerability by using only 8 USDC as collateral to borrow 187 ETH. On-chain data indicates that the attack transaction took place in the block immediately following the confirmation of the configuration change, suggesting that the attacker may have been monitoring the updates in real-time and acted swiftly to exploit the parameter update.