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ID:

synthetix-604

Date:

Status:

Incident Count:

June 25, 2019

Verified

3

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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:

37,000,000

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Recovered:

-

Rewards:

Currency:

USD, sKRW, sETH

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum

Protocol

Derivatives

Contract Vulnerabilities

Extended Method:

Oracle manipulation

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Days in Operation:

1395

(3.82 Years)

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Synthetix, a synthetic asset issuance platform built on Ethereum, experienced an oracle attack which netted the attacker over 37 million sETH, according to Etherscan. However, the true dollar value is difficult to calculate at this time given the relative illiquidity of sETH on secondary markets. In this case, a Synthetix oracle, responsible for providing external data to Synthetix’s smart contracts, transmitted false data on June 25, which a bot took advantage of. One bot owner's balance was inflated due to an incorrect sKRW price feed, which he then converted into an inflated amount of sETH. Attempted to contact bot owner to recover part of funds, however, no further details reported.

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