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ID:

blizz-finance-893

Date:

Status:

Incident Count:

May 12, 2022

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

No

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Audit By:

Audits:

None

Loss Amount:

8,300,000

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Avalanche

Protocol

Staking

Contract Vulnerabilities

Extended Method:

Price oracle manipulation

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Days in Operation:

317

(0.87 Years)

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Blizz Finance is a decentralized, non-custodial liquidity market protocol operating on Avalanche.

Chainlink paused the LUNA price oracle and that specific action placed the price feed out of sync, allowing several attackers to deposit millions of LUNA which is still worth $0.10 while the market price was $0.01 to borrow all the collateral.

Subsequently, the Blizz Finance protocol was drained before the Dev Team could pause due to the timelock. The loss amount was determined to be approx. $8.3M. As announced on May 15, the protocol will shutdown and cease all operations.

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