The Real Web 3.0! The Dark Forest of blockchains & DeFi, the forest's heart is filled with both exciting opportunities & complex challenges.
Data has become the vigor of the digital age, powering industries, economies, and societies worldwide. Whether personal information, financial records, intellectual property, or trade secrets, data is the driving force behind decision-making, innovation, and business operations. However, data security has emerged as a paramount concern with the increasing digitization of our lives and businesses.
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.
This blog explores the fascinating world of fuzz testing methodologies and frameworks. We delve into stateless and stateful fuzzing. Bounded Model Checking (BMC) is introduced as a technique to verify systems against predefined specifications. Additionally, we discuss the essence of End-to-End (E2E) testing, combining structured scenarios with fuzz testing's unpredictability. Lastly, we compare renowned fuzzing tools, Echidna and Foundry, highlighting their unique features and differences.
Safemoon suffered an attack in which the SFM/BNB pool was drained, resulting in a loss of $8.9M worth of ‘locked LP’. The attack was carried out by exploiting a vulnerability in the new Safemoon contract that allowed anyone to burn SFM tokens from any address, thus inflating the price of SFM tokens in the pool.
Fuzz testing, or fuzzing, is a technique used to improve the security of software, including smart contracts in Solidity. It involves supplying random or unexpected data as inputs to a system in an attempt to break it and uncover vulnerabilities that manual testing might miss. Fuzzers generate a set of inputs for testing scenarios that may have been missed during unit testing, helping to identify bugs and potential security issues.
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.