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ID:

primitive-finance-392

Date:

Status:

Incident Count:

February 22, 2021

Verified

1

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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:

-

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Protocol

Contract Vulnerabilities

Extended Method:

Contract vulnerabilities

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Days in Operation:

0

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Primitive Finance announced via a post that it had decided to self-hack its smart contract to fix what could have been a potential loophole. The exploit was discovered in the Primitive Finance smart contracts early today. The decentralized finance protocol revealed that the drastic action was the best approach to manage the vulnerability. The options to suspend or upgrade the contract on the platform were ruled out as neither was feasible. Left with no other alternatives, Primitive Finance resorted to hacking its smart contracts to secure funds on the platform. “A critical vulnerability was discovered in Primitive Finance smart contracts. As the contract is not upgradeable or pausable, we chose to whitehack our own smart contracts to safeguard user funds,” the blog post started.

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