Oracle price manipulation hits record 32 DeFi attacks this year: TRM Labs

Oracle price manipulation targeting DeFi lending protocols hit a record 32 incidents this year, TRM Labs said. The tactic involves artificially driving up the price of low-volume, thinly traded altcoins, then using them as collateral to borrow major cryptocurrencies up to the limit before stealing the funds and fleeing. Price manipulation now accounts for about one-eighth of all hacking attacks, up from about one-seventeenth in 2022, according to TRM Labs.