ID:
scream-protocol-902
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Fantom
Protocol
Lending
Contract Vulnerabilities
Extended Method:
Incorrect price oracle, hardcode stablecoin price
Days in Operation:
122
(0.33 Years)
100 pts each
Scream protocol is a decentralized lending protocol on the Fantom network. The protocol incurred a $35m losses after hardcoded the price of its stablecoins pegged to $1.
This left the lender with $35 million in bad debt after failing to adjust the price of two stablecoins that lost their US dollar peg. In actuality the stablecoins fell to $0.69 (fUSD) and $0.52 (DEI) at the lowest point.
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