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ID:

v8-protocol-1249

Date:

Status:

Incident Count:

October 27, 2022

Verified

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:

5,296

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Recovered:

-

Rewards:

Ticker:

USD, V8

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Binance Smart Chain

Assets

Token

Flash Loans

Extended Method:

Mint tokens by manipulating time difference

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Days in Operation:

3

(0.01 Years)

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BlockSec reported that V8 Protocol was attacked using the same TTPs (https://csrc.nist.gov/glossary/term/tactics_techniques_and_procedures) as VTF token by targeting the 'updateUserBalance' function.

The attacker creates hundreds of contracts and invokes the 'updateUserBalance' function in the V8Token contract with those contract addresses as parameters. This step updates the value of 'userBalanceTime[_user]' to the current timestamp.

Then, since the calculation of the reward amount is based on the time difference and the balance of the V8Token in the account, the attacker borrows a flashloan and accumulatively mints extra tokens with the pre-set time difference.

Stolen funds were sent to Tornado.cash.

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