ID:
kava-platform-909
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Ethereum, Cosmos
Network
Chain
Contract Vulnerabilities
Extended Method:
Logic error, hardcode oracle price
Days in Operation:
1505
(4.12 Years)
100 pts each
Kava is a lightning-fast Layer-1 blockchain that combines the interoperability of Cosmos with the developer support of Ethereum.
Kava hardcoded the UST price as the oracle price while UST is significantly below $1. It took a few days before that was changed resulting in a loss of $300M in TVL. Based on USDX 170M market cap prior to depeg, this represents a loss of $65M as market cap is currently at $105M (updated on 6/1).
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