makerdao-574MakerDAOThe HackerOne engineer who discovered the MCD vulnerability received a $50,000 bounty for the discovery. Chris Smith, senior software engineer at MakerDAO, reviewed the HackerOne report and concluded that leaving the “flip.kick” function publicly callable opens an attack vector that could allow significant collateral loss. If unpatched, the hack could have resulted in the complete removal of 40,673.89 in ether – currently the only source of collateral – locked in the system. This is currently worth more than $7 million.

Detail Analysis

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MakerDAO

Submit Incident Report

Date:

Status:

Count:

Contributor:

August 28, 2019

Verified

zerofriction.io

Loss Amount:

Recovered Amount:

Currency:

Dollars

KYC By:

Audit By:

None

Trail of Bits
PeckShield
Runtime Verification

Website:

https://makerdao.com/

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

Key Indicators

Platform:

Type:

Category:

Method:

Ethereum

Protocol

Algo-Stables

Contract Vulnerabilities

Extended Method:

Contract vulnerabilities

Data Sources:

https://www.cryptoglobe.com/latest/2019/10/security-flaw-discovered-that-could-ve-wiped-out-7-million-in-dai-collateral/

The HackerOne engineer who discovered the MCD vulnerability received a $50,000 bounty for the discovery. Chris Smith, senior software engineer at MakerDAO, reviewed the HackerOne report and concluded that leaving the “flip.kick” function publicly callable opens an attack vector that could allow significant collateral loss. If unpatched, the hack could have resulted in the complete removal of 40,673.89 in ether – currently the only source of collateral – locked in the system. This is currently worth more than $7 million.

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