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ID:

new-free-dao-1102

Date:

Status:

Incident Count:

September 8, 2022

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

1,250,000

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Recovered:

-

Rewards:

Currency:

USD, NFD

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Peckshield Alert reported that New Free DAO project has slipped 99% to a flash loan attack.

According to CertikAlert, the attacker deployed an unverified contract and called the function addMember() to add itself as a member. With the assistance of the attacking contract, the attacker executed three flashloan attacks. The attacker used the new attack contract to borrow WBNB via flash loan and swapped it for NFD tokens to the attacking contract, and get rewarded by interacting with the unverified contract. The attacker repeated the process with dozens of newly created contracts.

The exploiter has taken approx. 4500 BNB, swapped the BNB for BUSD, and started to deposit them into Tornado.cash.

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