link.png

ID:

alpha-finance-400

Date:

Status:

Incident Count:

February 13, 2021

Verified

2

info.png
target.png
REKT

Contributor:

chain.png

zerofriction.io

KYC By:

KYC:

None

info.png

Audit By:

Audits:

Peckshield, OpenZeppelin, Quantstamp

Loss Amount:

37,500,000

info.png

Recovered:

-

Rewards:

Currency:

USD, CYSUSD

info.png

Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Multi-Chain

Protocol

Yield Aggregator

Flash Loans

Extended Method:

Flash loan attack

info.png

Days in Operation:

0

chain.png
chain.png
chain.png
chain.png
datasource.png

The attacker uses Lightning Loan to Alpha Finance for leveraged lending, and uses Alpha Finance’s own Cream IronBank quota to return the Lightning Loan. In this process, the attacker obtains a large amount of cySUSD by adding liquidity to Cream, allowing the attacker to use it. These cySUSD are further borrowed in Cream Finance. Due to problems with Alpha Finance, both agreements suffered losses at the same time.

info.png

DISCLAIMER: While web3rekt has used the best efforts in aggregating and maintaining this database, this web site makes no representations or warranties with respect to the accuracy or completeness of its information and data herein, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall web3rekt be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the data and information derived from this database.