Saddle Finance had lost money once before, hours after it launched in January 2021. An individual was able to arbitrage Saddle Finance pools for a profit of around $275,000.
Saddle Finance loses more than $11 million to hack
An exploiter used a flash loan attack to pull 3,933 ETH (~$11 million) from the "decentralized automated market maker" Saddle Finance. Shortly after the attack, the hacker began moving the stolen funds through the Tornado Cash tumbler to launder the money.
- Tweet thread by PeckShield
- "Update on Saddle’s Launch", Saddle Medium