Linear Finance reports attack that drained Linear USD liquidity on PancakeSwap and Ascendex

Quick Take

  • Linear Finance reported an attack on Thursday that drained liquidity of its Linear USD token. 
  • The protocol paused contracts that enable token minting, burning or exchanging following the attack. 

Hong Kong-based DeFi protocol Linear Finance reported an attack on Thursday that drained liquidity of its Linear USD token. 

"The Linear Finance protocol was subject to an attack that resulted in the draining of all ℓUSD liquidity on both PancakeSwap and Ascendex, resulting in the price of ℓUSD going to zero," Linear Finance wrote in a