Minterest Releases Security Incident Update: Protocols on Ethereum and Taiko Unaffected, Working on Compensation Plan

On July 22nd, Minterest released an update on X on the recent security incident: On July 14th, Minterest encountered a security incident on Mantle, and the protocols on the Ethereum and Taiko networks were not affected. The team is actively addressing this issue and taking measures to strengthen the security of the platform. The vulnerability targets the USDY token smart contract, and other token market smart contracts on Minterest are not affected. A total of $1.40 million in mETH and WETH was stolen during the period. At present, the team has taken the following measures:
Suspend the operation of the platform.
· Contact the exchange to mark the wallet address;
Collaborating with security companies.
Attempt to get in touch with the attacker.
Publish bounty missions on Arkham.
Conduct a security audit.
The following plans include:
USDY holders: The contract status has been fixed to a pre-attack condition.
Liquidated users: The liquidation fees incurred during the attack will be refunded.
WETH/mETH suppliers: ongoing remediation programs, including initiatives to recover funds.
Previously, it was reported that Minterest was hit by a lightning loan attack and lost $1.40 million.