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ID:

belt-finance-1123

Date:

Status:

Incident Count:

August 10, 2021

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:

SOOHO, Haechi

Loss Amount:

-

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Recovered:

-

Rewards:

1,050,000

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Multi-Chain

Protocol

Yield

Rewards - Bug Bounties

Extended Method:

Logic error causing issuance of excess shares for new deposits

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Days in Operation:

575

(1.58 Years)

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Whitehat Alexander Schlindwein reported a critical bug in Belt Finance to Immunefi. The attack was a logic error in Belt Finance that caused one of their contracts to think that it had less money than it did, resulting in excess shares being issued for new deposits. Those shares could have been used to withdraw an unfair proportion of the assets in the contract. The attack was repeatable. Approximately $60m in BNB was at risk, but it was never exploited.

Belt Finance paid out a bounty of $1,000,000 USDT. Binance Smart Chain’s Priority One bounty matching program added $50,000 to the payout, making the total $1,050,000.

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