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Detail Analysis

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Date:

Status:

Count:

Contributor:

July 13, 2021

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Verified

1

zerofriction.io

Loss Amount:

124,999

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Recovered Amount:

-

Currency:

Dollars, BUSD

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Ethereum

Protocol

Contract Vulnerabilities

Extended Method:

Reentrancy attack

Data Sources:

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DeFiPie (PIE), the lending protocol on the Ethereum and Binance smart chains, was hacked. It is recommended that all liquidity providers extract all liquidity from the application. PIE tokens fell by more than 66% in 24 hours. The attacker used a re-entry attack to over-borrow and lent a portion of valuable assets. Later, the counterfeit currency was used for liquidation operations and took away the mortgaged valuable assets, which led to the DeFiPie agreement not only lent assets, but also lost all mortgage assets, and liquidity was lost. Peckshield confirmed just two hours after the attack that the source of the problem was “evil pTokens [that] allow for nested borrows".

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.