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MarketDeFiCrypto Live NewsCrypto Hack
Sep 16, 2026
< 1min read
byWhitney Nyantune
forCoinEdition
On September 16, 2026, Flamingo Finance lost about $345,900 after an attacker used an $18 million USDT flash loan to manipulate share <a href="https://xpertsstudio.com/bitcoin-price-tests-75k-as-supertrend-turns-bearish/” title=”Bitcoin price tests $75K as Supertrend turns bearish”>prices in older Flamincome/VaultYUSDT strategy contracts. The attacker staked USDP LP to inflate the vault share price and then redeemed liquid aUSDT at a favorable rate, highlighting DeFi flash loan exploit risks and security weaknesses for protocols, liquidity providers and token holders.
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FlamingoFinance lost about $345,900 in a DeFi exploit after an attacker manipulated share prices in older Flamincome contracts, security firm Blockaid said Wednesday.
The attacker used an $18 million USDT flash loan to increase the size of the trade and exploit the pricing flaw. The borrowed funds were used to interact with USDP liquidity-provider tokens held by a strategy contract.
Flash Loan Drives Vault Manipulation
Blockaid said the attack inflated VaultYUSDT’s share price, allowing the attacker to redeem liquid aUSDT at a favorable rate.
Source: cryptorank.io