Meta Pool experienced a significant exploit resulting in the minting of $27 million worth of mpETH tokens, yet the hacker fled with only around $132,000, or 52.5 ETH, due to low liquidity in the affected pools and an early detection mechanism that allowed the protocol to pause the smart contract. The hacker exploited a 'fast unstake functionality,' bypassing the usual waiting period before token transfers. Blockchain security firm PeckShield identified a critical bug in the staking contract that enabled the unauthorized minting of mpETH. Following the exploit, Meta Pool reassured users that all staked Ethereum remains secure with the SSV Network operators, which continue to validate blocks and earn staking rewards. The protocol plans to conduct a full post-mortem of the incident and provide a recovery plan within two days, with the affected mpETH contract remaining paused during the investigation.

Source đź”—