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ID:

teller-1128

Date:

Status:

Incident Count:

July 30, 2021

Near-Miss

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

-

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Recovered:

-

Rewards:

50,000

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum

Dapp

Lending

Rewards - Bug Bounties

Extended Method:

Uninitialized proxy contract could have been initialized by anyone.

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Days in Operation:

0

(0.00 Years)

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The Teller Protocol operates as decentralized software, enabling unsecured DeFi digital asset lending and borrowing through an open order-book model.

Through the protocol, borrowers can bridge off-chain data onto on-chain loan requests. Those requesting assets propose a loan request, and those supplying assets commit those assets to loan requests of their choosing. Lenders who agree to loan terms requested by borrowers, based on the data provided or required, transact directly.

Whitehat Bugdefeat disclosed a critical vulnerability in Teller to Immunefi. That vulnerability, which consisted of an uninitialized proxy, could have led to a loss of more than 1 million DAI if exploited. No user funds were lost, and the vulnerability has been patched. Although Teller didn’t have a bug bounty program at the time of the report, they are awarding the whitehat with a $50,000 bounty.

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