News/Lending Protocol Scream Left with $35 Million Bad Debt After Quoting Depegged Stablecoins at $1

Lending Protocol Scream Left with $35 Million Bad Debt After Quoting Depegged Stablecoins at $1

May 16,2022,20:53
Scream, a lending protocol on Fantom, has been attacked because the quotes of the stablecoins $fUSD and $DEI remain at $1 after they are unpegged, allowing attackers to borrow other stablecoins by depositing $fUSD and $DEI. Stablecoins like $FRAX, $DAI, $MIM, and $USDC have all been siphoned off from the platform. Scream is currently working with the Fantom Foundation to find a solution to the bad debt.
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