ID:
anch-project-1008
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Binance Smart Chain
Assets
Token
Flash Loans
Extended Method:
Price arbitrage
Days in Operation:
54
(0.15 Years)
100 pts each
Beosin reported that ANCHStakePool contract of ANCH project was subject to a price manipulation attack. The hacker profited ~$106k. Seems the project is not fully live yet.
The attacker first flashloans a large amount of USDT from the LP pool, raising the USDT price. Since the number of reward tokens was positively correlated with the USDT price, resulting in the number of reward tokens issued far more than the normal value, the attacker was able to obtain more ANCH reward tokens.
The attacker has made a total profit of 106,931 USDT, converted 37,872.53 USDT into 120 BNB and deposited to Tornado.Cash, while the remaining 69,058.47 USDT is still at the attacker's address.
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