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ID:

scream-protocol-902

Date:

Status:

Incident Count:

May 16, 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:

Solidity Finance

Loss Amount:

35,000,000

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Recovered:

-

Rewards:

Currency:

USD

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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