ID:
midas-capital-1415
Key Indicators
Platform:
Type:
Category:
Method:
Data Sources:
Polygon
Dapp
Dexes
Contract Vulnerabilities
Extended Method:
Reentrancy and price manipulation
Days in Operation:
2024
(5.55 Years)
100 pts
100 pts each
Midas Capital is a cross-chain money market solution that unlocks and maximizes the usage of all digital assets and makes them work for you.
Midas Capital has suspended Jarvis Network's Polygon pool https://app.midascapital.xyz/137/pool/1 due to suspicious transaction involving a recently added collateral token. According to Jarvis Network, Midas recently added a new collateral type stMATIC-wMATIC Curve LP token, which seems to have been inflated to borrow jEUR, jCHF and jGBP, as well as agEUR, and swap all of them on KyberNetwork for $MATIC.
The loan gain are caused by re-entry and price manipulations for jFIAT tokens. During the native token WMATIC send, attacker use the re-entry opportunity to borrow more. Attacker spend 270K WMATIC used as collateral, minted 131k jFIAT token. After price change back and force, attacker then created another contract and use 1/10 borrowed amount to liquidate the debt and redeem back 103k jFIAT token.
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