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The DeFi protocol Wild Credit on Ethereum suffered a white hat attack via A potential irregularity on the BNT-ETH pair, and the attacker has returned a total of $650,000. The exploit happened due to a very basic issue in the smart contracts that I bet most of the followers can detect. Anyone can call the `initialize` function to become the owner of the LP token contract. The owner can freely mint and burn LP tokens. The hacker took ownership of the contract, minted a bunch of tokens to themselves, and then used those fake tokens to withdraw real funds.
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