We lately reported that the Balancer DeFit protocol endured a $500,000 assault. A lot less than 24 hrs later on, a 2nd assault claimed about $2,300 really worth of Compound tokens (COMP).
Hao, an engineer at DeBank, tweeted that an attacker was ready to fool the Balancer system into wondering he was owed a significant portion of the COMP tokens saved in the decentralized exchange’s pool.
The attack included flash loans from each dYdX and Uniswap. The hacker loaned additional than $33 million that was applied to deliver cTokens symbolizing possession in a Compound pool.
The attacker then transferred the cTokens to a Balancer pool. This activated Compound into distributing the COMP accrued by the pool during its regular operation. The hacker then compelled Balancer to update the pool’s balance, which at this issue provided all of the flash loaned money. The system therefore considered that the hacker was entitled to a considerable share of the pool’s COMP, even with not possessing held any cash beforehand.
A get in touch with to withdraw the COMP and trade it to ETH done the hack, which netted a fairly little sum of about 10 COMP, really worth $2,300.
Hao pointed out that the assault is comparable to the $500,000 reduction from before in the working day. Like the to start with, this 2nd attack depends on the peculiar way that Balancer manages its interior state.
The group has since pledged to make influenced people total. They will also compensate a researcher who reported on the vulnerability in May possibly.
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