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ID:

equalizer-finance-934

Date:

Status:

Incident Count:

June 7, 2022

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

No

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Audit By:

Audits:

Certik

Loss Amount:

72,000

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Recovered:

-

Rewards:

Currency:

Dollars, EQZ

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum, Binance Smart Chain, Polygon

Dapp

Dexes

Contract Vulnerabilities

Extended Method:

Logic error, Flash Loans

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Days in Operation:

652

(1.79 Years)

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Equalizer Finance makes DeFi Flash Loans easier by providing a dedicated platform that equalizes the decentralized markets. It has DeFi applications deployed by both BSC and Ethereum, both of which were the targets.

The vulnerability was that its FlashLoanProvider contract was incompatible with its Vault contracts. The vulnerability was exploited by the attacker to leverage flash loans to withdraw a large number of tokens from the vaults and eventually drained the vaults.

Onchain analysis of Ethereum indicated that around $72k was taken so far.

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