Ionic Finance was hacked because they’ve listed fake market.
LBTC is currently deployed on Eth,Base, BNB, Corn, Bob and swell, but Ionic team listed LBTC market on Mode chain.
LBTC on Mode was fake LBTC token that was deployed 26 days ago.
Owner of fake LBTC can mint any amount of LBTC. He was able to supply these fake LBTC tokens as collateral, and drain all markets.
Be careful when adding new market.
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