TheStandard.io was exploited when an attacker initiated a CDP with 10 WBTC collateral to mint 290K EUROs, then forced a manipulated swap in the WBTC/PAXG pool. Lack of slippage protection (amountOutMinimum = 0) combined with low liquidity enabled the attack.

On November 7, TheStandard.io was exploited for ~$290k. The key vulnerability here was the low liquidity in the PAXG pool, which the attacker exploited to manipulate the market. On November 9, 243k $EUROs has been returned to the protocol from the attacker which will be burned in due process.