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ID:

abracadabra-money-1289

Date:

Status:

Incident Count:

November 8, 2022

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

110,887

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Recovered:

-

Rewards:

Ticker:

USD, MIM

Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum

Platform

Lending

Flash Loans

Extended Method:

Oracle price manipulation

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Days in Operation:

533

(1.46 Years)

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Abracadabra.money is a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD pegged stablecoin (Magic Internet Money - MIM), that can be used as any other traditional stablecoin.

An exploiter was able to make over $100k due to an oracle price lagged in Magic Internet Money (MIM).

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