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ID:

lendf-me-528

Date:

Status:

Incident Count:

April 19, 2020

Verified

2

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

1,200,000

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum

Protocol

Dexes

Contract Vulnerabilities

Extended Method:

Reentrancy attack

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Days in Operation:

0

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DeFi lending protocol Lendf.Me was hacked and more than $25M was taken. According to investigators, hackers appear to have chained together bugs and legitimate features from different blockchain technologies to orchestrate a sophisticated "reentrancy attack." Reentrancy attacks allow hackers to withdraw funds repeatedly, in a loop, before the original transaction is approved or declined. However, as of April 21, all the funds ($23.8M) were returned after they accidentally leaked an IP address during the attack. The funds were returned after Lendf.me and the dForce Foundation negotiated with the hackers using blockchain transactions. Loss was due to loss in value and transaction fees due to the event.

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