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ID:

compound-436

Date:

Status:

Incident Count:

November 26, 2020

Verified

4

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

DefiSafety

Loss Amount:

-

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum

Protocol

Lending

Contract Vulnerabilities

Extended Method:

Oracle manipulation

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Days in Operation:

1815

(4.97 Years)

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Compound's price feed error caused the liquidation of $90 million in assets. An apparent error or malicious attack to the Dai-dollar-peg data supplied by the Coinbase oracle pushed the price of the stablecoin to about $1.30 – a premium of 30% – leaving some users on Compound under-collateralized. According to DeBank founder hongbo, the huge liquidation of Compound was caused by the dramatic fluctuations in the DAI price of the oracle information source Coinbase Pro. It is a typical oracle attack to manipulate the information source that the oracle relies on to perform short-term price manipulation to achieve misleading prices on the chain.

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