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ID:

tidal-finance-1125

Date:

Status:

Incident Count:

July 31, 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:

Halborn

Loss Amount:

-

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Recovered:

-

Rewards:

25,000

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Polygon

Protocol

Insurance

Rewards - Bug Bounties

Extended Method:

Logic error in reward calculation allowing malicious user to take rewards generated from staking that they are not entitled to.

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Days in Operation:

743

(2.04 Years)

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Tidal Finance is a decentralized discretionary mutual cover protocol that offers the DeFi community the ability to hedge against the failure of any DeFi protocol or asset.

Whitehat Csanuragjain submitted a critical vulnerability in Tidal Finance to Immunefi. The vulnerability was a logic error that permitted a malicious user to claim more rewards from staking than they were entitled to. Approximately 300 million Tidal tokens were locked in the staking contract at the time. Since the trigger condition would require multiple requirements to meet during a claim and payout process, it is unclear how much could have been stolen with additional claims. Tidal Finance quickly patched the bug and paid out a $25,000 USDT bounty to the whitehat.

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