Plain meaning
Start with the shortest useful explanation before going deeper.
An exploit where an attacker borrows a large amount of tokens via an uncollateralized flash loan, uses the borrowed funds to manipulate protocol state (typically distorting oracle prices or satisfying collateral requirements), extracts profit from the manipulated state, and repays the loan — all within a single atomic transaction. On Solana, flash loans are possible because transactions are atomic: if any instruction fails, the entire transaction reverts including the loan. Defenses include using time-weighted oracle prices, enforcing borrowing caps, and requiring multi-slot settlement.