stETH Vault Exploit Hits Reddio with $9.25M Loss

Reddio suffered a significant loss of approximately 9.25 ETH due to a flaw in the stETH vault, as pointed out by CryptoTwitter commentator @SlowMist_Team.

The incident involved an attacker exploiting a double-counting flaw in the cross-vault asset implementation, allowing them to manipulate the rsvETH share price and cause financial losses for Reddio.

This event highlights the vulnerabilities that can exist within DeFi protocols like stETH, raising concerns over the security of decentralized finance (DeFi) systems.