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ID:

stablegains-911

Date:

Status:

Incident Count:

May 19, 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:

None

Loss Amount:

41,000,000

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Terra Network

Dapp

Staking

Contract Vulnerabilities

Extended Method:

Incorrect price oracle, hardcode stablecoin price

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Days in Operation:

524

(1.44 Years)

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Stablegains promotes the ability to make DeFi simple for regular people to benefit from advances in the financial system so they can reach financial freedom.

While saying that their customer deposits are invested in USDC and USD with a promise of an APY return of 15%, the project has been investing in UST. As the result of the collapse of Luna and its pegged token UST, Stablegains has lost $41M of its customer funds.

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