Jimbos Protocol loses $7.5M in Ether hack.
TL;DR Summary
Jimbos Protocol, the liquidity protocol of the Arbitrum system, was hacked resulting in the loss of 4,000 Ether (ETH), worth approximately $7.5 million at the time. The attacker took advantage of the lack of slippage control on liquidity conversions. Hacking incidents in DeFi protocols is not a novel phenomenon, and the community continues to be exposed to numerous exploits despite efforts to enhance security measures.
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