- dForce lost $3.65 Million to an exploiter on Arbitrum and Optimism.
- The total amount of Ethereum tokens stolen in these assaults was $3.65 million.
- dForce Network immediately disabled access to the dForce Vaults.
An investigation by Cryptonewsland found that a large number of suspicious Arbitrum and Optimism transactions took place via dForce Network, the unified platform for the DeFi protocols.
Security and analytics firm PeckShield Inc. estimates that the total amount of Ethereum tokens stolen in these assaults was $3.65 million.
According to the findings from PeckShield, the exploit was only made feasible because the price of the wstETHCRV-gauge asset on the dForce network was changed via reentrancy (through wstETHCRV.remove liquidity).
Because of this, the exploiter was successful in closing off multiple positions by using the wstETHCRV-gauge as collateral.
Additionally, 0.99 ETH of the initial capital is withdrawn from the RAILGUN project. This project is a decentralized application (dApp) system that any wallet may integrate and then send to Optimism and Arbitrum via SynapseNetwork.
Moreover, the 2.3 thousand ETH, which is equivalent to around $3.65 million, is still sitting in the hacker’s account. On the other hand, reports indicate that the dForce Network immediately disabled access to the dForce Vaults. However, all of the protocol’s subsystems continue to function normally, and dForce Lending maintains a safe environment for its users’ funds.
Peckshield also said that one of its contributors to the community, @ZoomerAnon, was aware of the issue with the dForce flash loan exploit.
Another blockchain security network called BlockSec believes that a read-only reentrancy attack around the curve pool is the primary driver of this latest issue. BlockSec made the observation that the pricing oracle that dForce’s lending protocol relies on may be readily manipulated by malicious actors.
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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.
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- Source: https://cryptonewsland.com/dforce-loses-3-65m-to-an-exploiter-on-arbitrum-and-optimism/
