ERC-2771 is a protocol designed for authenticating users in transactions relayed through a third party. It plays a pivotal role in reducing transaction costs and streamlining operations on the blockchain. However, this convenience comes with a hidden risk.
The BonqDAO security breach that occurred on February 2, 2023, had far-reaching consequences for the platform, its users, and the wider DeFi ecosystem. The attack exploited a vulnerability in the integration of the Tellor Oracle system, which BonqDAO relied on for obtaining token price information.
The attackers exploited a reentrancy vulnerability in the Orion Protocol's core contract, ExchangeWithOrionPool, by constructing a fake token (ATK) with self-destruct capability that led to the transfer() function.
Zunami is a decentralized protocol operating in the Web3 space, specializing in issuing aggregated stablecoins like UZD and zETH. These stablecoins are generated from omnipools that employ various profit-generating strategies. Recently, the protocol was exploited, resulting in a loss of $2.1M.
Jimbo's Protocol is a decentralized finance (DeFi) system built on the Arbitrum chain. The protocol uses a semi-stable floor price for its ERC-20 token, $JIMBO, backed by a treasury of Ether (ETH). However, despite its pioneering efforts to maintain on-chain liquidity and price floors, Jimbo's Protocol recently faced a Flash loan attack.
On February 17, 2023, Platypus Finance was hacked, resulting in a loss of approximately $8.5 million worth of assets. In this hack analysis, we will delve into the details of the attack, the vulnerability that was exploited, and the impact it had on the platform and its users.
The Dexible hack affected a total of 17 user accounts, with the majority of losses coming from a single address belonging to BlockTower Capital, a prominent investment firm.
Kokomo Finance has taken off with approximately $4 million worth of user funds, leaving users unable to withdraw their funds. Wrapped Bitcoin deposits were rugged, with almost $2M of tokens still remaining in the project’s pools on Optimism.
On April 9, 2023, SushiSwap suffered a security breach which led to a loss of over $3.3 million. The attack exploited a flaw in the RouteProcessor2 contract of SushiSwap's router processor. The fallout was felt across several major chains that had previously authorized the RouteProcessor2 contract.
In April 2023, Merlin DEX,a decentralized exchange (DEX) built on ZkSync, suffered a hack during a Liquidity Generation Event for its MAGE token, resulting in an estimated loss of $1.8 million from the protocol.