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WUSD Exploit Drains Nearly $20K From GLO Liquidity Pools
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Ethereum-based WUSD/GLOVE protocol was exploited after attackers abused a reward mechanism to mint GLO tokens through multiple fresh wallet addresses. The attacker reportedly used flash-loaned USDT to repeatedly trigger reward payouts, then sold the minted GLO into protocol liquidity pools. Around $19,800 in USDC and USDT was drained from the GLO-USDC and GLO-USDT pools before the funds were repaid and profits secured. The incident highlights ongoing risks around weak anti-sybil protections and flawed incentive designs in DeFi reward systems.
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