How did the flash loan attack at newtoken.net lead to a 99% crash of nfd token?

1 answers

• Jan 12, 2022 · 3 years ago
  The flash loan attack at newtoken.net was a devastating blow to the nfd token, causing its value to crash by a staggering 99%. Flash loans, although designed to provide liquidity, can be exploited by malicious actors to manipulate the market. In this case, the attacker borrowed a significant amount of nfd tokens and executed a series of trades designed to create panic among other traders. As a result, a massive sell-off occurred, driving the price of nfd token down rapidly. The 99% crash was a direct consequence of the flash loan attack, underscoring the importance of robust security measures and thorough auditing in the cryptocurrency space.
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