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Lien Finance Loses $542,000 USDC to Bond Exchange Vulnerability

GateNews
Security Incidents
Lien Finance lost approximately $542,000 USDC in July due to a vulnerability in its bond token exchange logic, according to blockchain security firm SlowMist. The attacker exploited the exchangeEquivalentBonds function in the BondMakerCollateralizedEth contract to mint bond tokens without destroying input bonds, then exchanged them for real USDC liquidity. SlowMist stated the attack was possible because bond groups lacked sufficient verification during exchange. On-chain analysis by DefimonAlerts revealed the attacker registered malicious bonds through the protocol, routing them to Lien Finance's OTC pools in exchange for actual liquidity. The attacker's wallet was identified as 0x0d7d…1808a.
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