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ID:

harvest-finance-451

Date:

Status:

Incident Count:

October 26, 2020

Verified

3

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

Certik, Least Authority, Haechi, Peckshield

Loss Amount:

21,500,000

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Recovered:

-

Rewards:

Currency:

USD, renBTC

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum

Protocol

Yield Aggregator

Flash Loans

Extended Method:

Flash loan attack

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Days in Operation:

769

(2.11 Years)

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Decentralized finance (defi protocol) Harvest Finance was hacked on Monday for $24 million. The attacker targeted the protocol’s liquidity pools, performing an arbitrage attack using a large flash loan – a type of uncollatarized loan – but later returned $2.5 million. In seven minutes, the hack was complete. Harvest Finance revealed that the hacker “manipulated prices on one money lego (curve y pool) to drain another money lego [farm USDT (fUSDT), farm USDC (fUSDC)], many times. The attacker then converted the funds to renBTC and exited to bitcoin.”

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