Tranche vault on Avalanche drained of 1.01 million USDC in flash loan exploit
AI summary
An attacker drained 1.01 million USDC from a Tranche vault on Avalanche, according to Blockaid. The exploit used a flash loan to mint inflated tranche shares, which were then redeemed for the vault's USDC, leaving the identified contract with no balance. The loss is small relative to the wider market, but it highlights continuing smart-contract risk in DeFi lending vaults and could weigh on confidence in Avalanche-based yield products.
