MIM Stablecoin Briefly Crashes to $0.76 After Reported $6.5M Attack Exploiting Rounding Error
• MIM stablecoin suffers flash crash to $0.76 amid reported $6.5M exploit • Exploit funded from Tornado Cash; attacker took advantage of rounding error • MIM developers say Abracadabra DAO will buy back stablecoins to preserve $1 peg • MIM fluctuated before during FTX collapse due to FTT collateral exposure • Abracadabra DAO previously proposed transitioning from decentralized to centralized control