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ID:

saddle-finance-874

Date:

Status:

Incident Count:

April 30, 2022

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

No

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Audit By:

Audits:

OpenZeppelin, Certik, Quantstamp

Loss Amount:

10,000,000

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Recovered:

3,800,000

Rewards:

Currency:

USD

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Saddle is a decentralized automated market maker (AMM) on the Ethereum blockchain, optimized for trading pegged value crypto assets with minimal slippage. Saddle enables cheap, efficient, swift, and low-slippage swaps for traders and high-yield pools for LPs. We believe in collaboration, in building Saddle as a DeFi lego block, in helping DeFi teams bring AMMs to any blockchain.

Peckshield reported that Saddle was exploited for over $10M in a series of transactions. Whitehat firm BlockSec assisted the firm to stop the damage and was able to recover $3.8M, which they will receive $380K as rewards for the effort.

Updated 5/6
Peckshield reported that 3201 ETH has been transferred into Tornado.Cash - https://twitter.com/PeckShieldAlert/status/1522763282368450562?s=20&t=zkmyTwVWbL-Czmr8zipxBg

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