Gamma Protocol Closes Deposit Channels Following Flash Loan Attack

According to Foresight News, liquidity management protocol Gamma has announced the closure of all public vaults and virtual machine monitor deposit channels. The deposit channels will remain closed until the team identifies and resolves the issue, allowing users to withdraw funds as needed. Previously, Foresight News reported that a flash loan attack targeting Gamma Strategies contracts was detected on the Arbitrum chain by CertiK. The attacker manipulated prices to obtain 1,535 ETH (worth approximately $3.43 million) and bridged it to Ethereum.