Detail Analysis
Date:
Status:
Count:
Contributor:
June 28, 2021
Verified
2
zerofriction.io
Loss Amount:
300,000
Recovered Amount:
-
Currency:
Dollars, BNB, MERL
KYC By:
Audit By:
None
None
Website:
No data
Twitter:
No data
Discord:
No data
Telegram:
No data
Medium:
No data
Github:
No data
Key Indicators
Platform:
Type:
Category:
Method:
Binance Smart Chain
DApp
Contract Vulnerabilities
Extended Method:
Logic error
Data Sources:
The hacking of the revenue aggregator Merlin Lab stems from a logical loophole in MerlinStrategyAlpacaBNB. The contract mistakenly uses the BNB transferred by the beneficiary as mining revenue, which makes the contract issue more MERL as a reward. After repeated operations, the attacker made a profit of 300,000 US dollars. MERL was cut short, falling from $16.23 to $6.09. The issue? It was rewarding 35 merlin (worth over $500 before exploit) for every BNB (worth ~$300). In summary, Merlin's reward system miss-calculated rewards and gave more Merlin Tokens in value than it has received.
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