​​What Are DeFi Flash Loans & How To Prevent Flash Loan Attacks?

What is a flash loan?

Source: Finematics

Flash loan attacks — why they are easily executed

One of the most common types of economic exploit in DeFi involves a flash loan attack. Source: Elliptic

Examples of flash loan attacks in 2021

C.R.E.A.M. Attack October 2021 loss of ~$130m

xToken Attack August 2021 loss of ~$4.5m

Pancake Bunny Attack May 2021 loss of ~$200m

Consequences of flash loan attacks

5 Steps for protocols to take to minimize the likelihood and impact of flash loan exploits

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