Nearly 400,000 flash loan transactions on Solana inflated spot trading activity after a pricing bug in ZeroFi’s DRAM/USDC pool was exploited, with about $45,000 stolen.
Solana overtook Binance in decentralized exchange spot trading volume on July 11, but the move was largely tied to abnormal activity from an exploit rather than broad-based trading demand. The surge came from a pricing bug in ZeroFi’s DRAM/USDC pool, where nearly 400,000 flash loan transactions (unsecured loans repaid in one transaction) produced more than $4.7 billion in volume. Roughly $45,000 was stolen in the exploit. The episode shows how on-chain trading metrics can be distorted by automated attack activity, even when headline volume suggests stronger market momentum.