On May 28, 2023, Jimbos Protocol on Arbitrum (launched <20 days prior) was exploited for 4,090 ETH via flashloan-enabled oracle manipulation. Attacker took $5.9M flashloan and manipulated JIMBO price to exploit shift/conversion logic lacking slippage protection.

The Arbitrum ecological project Jimbos Protocol was attacked, and about 4,090 ETH were stolen (about $7.5 million). This attack was due to the lack of slippage control on the liquidity transfer operation, which resulted in the protocol owned liquidity being invested in a skewed/imbalanced price range, which was used in reverse swaps for profit.