Detail Analysis
Date:
Status:
Count:
Contributor:
April 2, 2022
Verified
1
zerofriction.io
Loss Amount:
15,600,000
Recovered Amount:
-
Currency:
Dollars
KYC By:
Audit By:
None
DefiSafety
Website:
Twitter:
Discord:
No data
Telegram:
No data
Medium:
No data
Github:
No data
Key Indicators
Platform:
Type:
Category:
Method:
Ethereum
Protocol
Lending
Contract Vulnerabilities
Extended Method:
Price oracle manipulation
Data Sources:
The company wrote on Twitter that a hacker managed to manipulate its money market, Anchor, and increased the price of INV via Sushiswap – an open-source ecosystem of DeFi tools.
INV is an Ethereum token that powers Inverse Finance, a decentralized platform used for lending, borrowing, and creating synthetic assets.
The manipulation caused a sharp increase in the price of INV, allowing the hacker to borrow $15.6 million in the DOLA, ETH, WBTC and YFI cryptocurrencies against it.
“The manipulation was not a flash loan attack and was unrelated to Inverse’s smart contract or front end code. All future borrows on Anchor are temporarily paused,” the company said initially.
In a blog post on 4/4, Inverse Finance confirmed PeckShield’s analysis which found that the attacker withdrew 901 ETH from Tornado Cash and made a series of trades primarily in the INV/DOLA pool on SushiSwap on Saturday morning. Tornado Cash is a cryptocurrency mixer that allows people to hide the origin of funds.
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