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ID:

anch-project-1008

Date:

Status:

Incident Count:

August 5, 2022

Verified

2

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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:

106,903

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Recovered:

-

Rewards:

Currency:

USD, ANCH

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Binance Smart Chain

Assets

Token

Flash Loans

Extended Method:

Price arbitrage

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Days in Operation:

54

(0.15 Years)

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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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