ID:
euler-finance-1495
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Ethereum
Dapp
Lending
Flash Loans
Extended Method:
Lack of checking liquidity the donateToReserves() function
https://twitter.com/BlockSecTeam/status/1635204706703384577 https://twitter.com/pcaversaccio/status/1635210680130486272 https://twitter.com/zachxbt/status/1635209310916743170 https://twitter.com/FrankResearcher/status/1635241475989721089 https://medium.com/@omniscia.io/euler-finance-incident-post-mortem-1ce077c28454
Days in Operation:
954
(2.61 Years)
100 pts each
Euler is a non-custodial protocol on Ethereum that allows users to lend and borrow almost any crypto asset. Euler Finance was attacked and at least $177M was taken in ~96,833 $ETH ($153M) and ~34M $DAI as well as WBTC and USDC.
According to ZachXBT, attacker also exploited some random protocols and deposits the stolen funds into Tornado Cash (https://etherscan.io/address/0xb1546454219ccf4202c91024943321e8c92f509d).
The attacker exploited vulnerable code which allowed it to create an unbacked token debt position by donating funds to the protocol’s reserves. As a result, the attacker was able to liquidate these underwater accounts and profit from the liquidation bonuses.
Stolen funds were sent to Tornado Cash thru. an intermediary address.
As of 4/3/2023, the exploiter has returned most of the funds (90%).
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