03-23-2022, 03:39 PM
"Cashio" a stablecoin on Solana had an infinite mint bug, someone hacked it, printed
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/tksgn9/cashio_a_stablecoin_on_solana_had_an_infinite/"> <img src="https://a.thumbs.redditmedia.com/ztwuGSHYTK86Z59KHkMfFOicUaUoQI7ea4-7zavkjl0.jpg" alt=""Cashio" a stablecoin on Solana had an infinite mint bug, someone hacked it, printed millions and dumped it to literally zero! RIP" title=""Cashio" a stablecoin on Solana had an infinite mint bug, someone hacked it, printed millions and dumped it to literally zero! RIP" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>How often do we get to see a stablecoin go to zero?</p> <p><a href="https://preview.redd.it/95n3isj6j4p81.jpg?width=1070&format=pjpg&auto=webp&s=d5539fed62a58d730f582b20b15b2f44845df3a5">Well here is one!</a></p> <p>Cashio is an algorithmic stablecoin that was just exploited due to an infinite mint bug and the value crashed</p> <p><a href="https://preview.redd.it/s49mvq08j4p81.jpg?width=1186&format=pjpg&auto=webp&s=05113e0defddbd9242d908fd985ad278d002ae2a">Team's statement</a></p> <p>The team has asked people to withdraw funds after the exploit has drained all value from the project after the infinite mint exploit. </p> <p>An infinite mint allows a hacker to mint literally an infinite amount of stablecoins, thus crashing its value. It's incredible a stablecoin has this kind of exploit lurking in its code. Whats the whole purpose of a stablecoin isnt it.. to ensure its supply is controlled and pegged to USD</p> <p><a href="https://preview.redd.it/57ytq79cj4p81.jpg?width=946&format=pjpg&auto=webp&s=6e049262b39b3708591e818d36b7fda78107781a">View from another angle...</a></p> <p>Anyone holding funds in the stablecoin just lost all of it. Hopefully no one here got burnt on this. Shows the risk of algorithmic stablecoin</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Set1Less"> /u/Set1Less </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tksgn9/cashio_a_stablecoin_on_solana_had_an_infinite/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tksgn9/cashio_a_stablecoin_on_solana_had_an_infinite/">[comments]</a></span> </td></tr></table>Kind Regards R
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/tksgn9/cashio_a_stablecoin_on_solana_had_an_infinite/"> <img src="https://a.thumbs.redditmedia.com/ztwuGSHYTK86Z59KHkMfFOicUaUoQI7ea4-7zavkjl0.jpg" alt=""Cashio" a stablecoin on Solana had an infinite mint bug, someone hacked it, printed millions and dumped it to literally zero! RIP" title=""Cashio" a stablecoin on Solana had an infinite mint bug, someone hacked it, printed millions and dumped it to literally zero! RIP" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>How often do we get to see a stablecoin go to zero?</p> <p><a href="https://preview.redd.it/95n3isj6j4p81.jpg?width=1070&format=pjpg&auto=webp&s=d5539fed62a58d730f582b20b15b2f44845df3a5">Well here is one!</a></p> <p>Cashio is an algorithmic stablecoin that was just exploited due to an infinite mint bug and the value crashed</p> <p><a href="https://preview.redd.it/s49mvq08j4p81.jpg?width=1186&format=pjpg&auto=webp&s=05113e0defddbd9242d908fd985ad278d002ae2a">Team's statement</a></p> <p>The team has asked people to withdraw funds after the exploit has drained all value from the project after the infinite mint exploit. </p> <p>An infinite mint allows a hacker to mint literally an infinite amount of stablecoins, thus crashing its value. It's incredible a stablecoin has this kind of exploit lurking in its code. Whats the whole purpose of a stablecoin isnt it.. to ensure its supply is controlled and pegged to USD</p> <p><a href="https://preview.redd.it/57ytq79cj4p81.jpg?width=946&format=pjpg&auto=webp&s=6e049262b39b3708591e818d36b7fda78107781a">View from another angle...</a></p> <p>Anyone holding funds in the stablecoin just lost all of it. Hopefully no one here got burnt on this. Shows the risk of algorithmic stablecoin</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Set1Less"> /u/Set1Less </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tksgn9/cashio_a_stablecoin_on_solana_had_an_infinite/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tksgn9/cashio_a_stablecoin_on_solana_had_an_infinite/">[comments]</a></span> </td></tr></table>Kind Regards R