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Polygon Lending Protocol 0VIX Pauses Protocol After $2M Exploit

0VIX, a lending protocol on Polygon and Polygon zkEVM, has reportedly been exploited for at least $2 million.

The protocol enables borrowing against multiple stablecoins, derivatives of Ethereum and Polygon’s native MATIC token, as well as Aavegotchi’s staked token, vGHST. Aavegotchi is a blockchain gaming project inspired by the popular Tamagotchi game.

The exploit was carried out on the vGHST token.

Officer’s Notes, an independent security researcher, told Decypt that the attackers have already transferred $1.4 million in USDC and $600,000 in USDT via briding protocolStargate Finance as they attempt to transfer funds back to Ethereum and convert the stablecoins to ETH.

The 0VIX team responded by pausing the lending markets temporarily as they investigated the matter.

((By Nivesh Rustgi))

Polygon
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