SEI Chain Hit by $240,000 Flash Loan Attack

Overview of the Attack

According to recent reports, on January 9, the Synnax contract on the SEI chain was exploited through a flash loan attack, where attackers borrowed 1.96 million WSEI (approximately $240,000) and failed to repay the amount.

Triggering Cause

The reason behind this attack was unexpected: three blocks earlier, a user accidentally transferred funds into the contract, unknowingly providing the attackers with the necessary capital. The address involved was 0x9748…a714, which unintentionally became the source of the attack funds.

Attack Path Analysis

The attack involved two transactions: TX1 and TX2. These transactions demonstrated how the attackers leveraged the flash loan mechanism to siphon off funds. Such incidents serve as a reminder that on-chain operations in the DeFi ecosystem still pose critical risks.