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ID:

value-defi-356

Date:

Status:

Incident Count:

May 7, 2021

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:

Arcadia Group, Peckshield, Pessimistic

Loss Amount:

11,000,000

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Protocol

Contract Vulnerabilities

Extended Method:

Logic error

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Days in Operation:

805

(2.21 Years)

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DeFi protocol ValueDeFi is suspected of being hacked again after being hacked on the 5th. ValueDeFi reminds users in the community, "All non-50/50 transaction pools of the project have been used. Please stop purchasing gvVALUE and vBSWAP until the project team provides a solution." It was subsequently confirmed that more than 3,000 ETH (approximately 10 million U.S. USD) were lost. During the latest attack, a profit-sharing pool was exploited in a manner where the hacker turned himself into the sole operator of the pool and drained the original stake token (vBWAP/BUSD LP). Then the hacker removed all of the tokens, and removed liquidity to receive over 7300 vBSWAP and 205k BUSD, before selling the vBSWAP for nearly 8800 BNB on 1inch, using the BNB and BUSD to buy renBTC, and ultimately using renBridge to swap the funds into BTC. The incident was due to the improper use of a complex exponentiation power() function behind the calculation and enforcement of the weighted constant product invariant.

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