Flash loan attack
Days in Operation:
Nerve Finance, a stablecoin trading platform based on the Binance Smart Chain (BSC), tweeted that the Nerve-related machine gun pool in the revenue aggregator Eleven Finance have been attacked by sparks for 4.5M. The incident was due to a bug that allows the attacker to withdraw funds without burning any shares. While it appears to be a flashloan attack, it is a flashswap-assisted one. In the following, we elaborate the technical detail After analysis, the reason for the exploit is that the emergencyBurn() function does not calculate the balance correctly and does not execute the destruction. On September 30th, hackers have returned approximately $4.5 million in stolen funds.
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