Approximately $1.01 Million Stolen as Tranche Vault on Avalanche Suffers Attack

Tranche Vault on Avalanche has suffered a sustained attack, in which the attacker used flash loans to mint inflated tranche shares and subsequently redeemed the remaining USDC from the vault. The attack involved Fence Finance and Valinor Digital, and approximately $1.01 million has currently been stolen from the vault across roughly two transactions.