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I just saw a pretty sophisticated attack on BSC. It turns out they manipulated the TMM/USDT pair using flash loans from various platforms — Venus, Aave V3, PancakeSwap, and Uniswap. The interesting part is how they reduced the token reserve to almost nothing by burning TMM, then exchanged 850 million TMM for about 272 million USDT.
In total, they made around 1.66 million USDT in profit after repaying all the flash loans. It’s a good reminder of how vulnerable a trading pair can be when liquidity is low. The attacker exploited this to completely manipulate the price.
These types of reserve manipulation attacks are becoming more common. The weak point is always the same: when someone can control the flow of USDT and tokens in a pair, they basically control the price. That’s why it’s important to check liquidity and reserve distribution before trading on less-known pairs.