Abracadabra Finance suffers $6.5 million exploit, MIM stablecoin crashes to $0.76

Decentralized finance protocol Abracadabra Finance has suffered a major exploit discovered earlier today, leading to a loss of approximately $6.5 million in user funds. Magic Internet Money (MIM), the algorithmic stablecoin issued by the protocol, crashed to $0.76 following the exploit.According to aninitial disclosure published by blockchain security firm PeckShield at 5:36 AM EST, the threat... source: https://cryptobriefing.com/abracadabra-finance-suffers-6-5-million-exploit-mim-stablecoin-crashes-076/?utm_source=cryptopanic&utm_medium=rss