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ID:

synapse-protocol-199

Date:

Status:

Incident Count:

November 7, 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, nUSD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Multi-Chain

Protocol

Dexes

Contract Vulnerabilities

Extended Method:

Oracle manipulation

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Days in Operation:

590

(1.62 Years)

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The cross-chain protocol Synapse Protocol updates the progress of the cross-chain bridge attack. The protocol will not process hacker transactions, and all Synapsen USD will be returned to the affected liquidity providers in full. At present, the Synapse Protocol network is resuming normal activities and processing the backlog of transactions. The new nUSD fund pool has been deployed (the stableswap contract is used to replace the metapool contract to ensure security), and the unaffected liquidity providers will need to release their mortgages and remove them from the old Withdraw liquidity from the fund pool, the official announcement will be released soon. Previously, it was reported that on November 7, the asset cross-chain bridge launched by the cross-chain protocol Synapse Protocol was suspected to have loopholes. The attacker managed to manipulate the price of nUSD and made a profit of about 8 million U.S. USD from it, however the funds were rejected by the validators failing the move transactions.

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