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Author Topic: ValueDeFi exploited for $11 Milion  (Read 730 times)

Offline Zed0X

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ValueDeFi exploited for $11 Milion
« on: May 09, 2021, 07:27:32 AM »
I don't understand all the details but, apparently, attackers were able to drain the 9 pools on the platform siphoning $11 Million.

If you have technical knowledge on coding, here's the article for you - ValueDeFi Incident: Incorrect Weighted Constant Product Invariant Calculation

Quote
Summary

This incident was due to the mis-calculation by the protocol on the adopted weighted constant product invariant for non 50–50 ratio pools. There is no flashloan or price manipulation involved. The consequence of mis-calculated invariant allows for draining of affected pool funds. Currently, the bug has been exploited to attack 9 non 50–50 ratio pools with the estimated loss of $11M.

Coinmarketcap also covered the story HERE and enumerated the affected pools:
  • 15k BNB – 2.7k
  • FARM – 1.7k
  • BASv2 – 8.5M
  • BDO – 68.3k
  • BUSD – 41.4k
  • MDG – 945k
  • VBOND – 1.2M
  • BAC – 11k FIRO
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ValueDeFi exploited for $11 Milion
« on: May 09, 2021, 07:27:32 AM »

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