Hdr_About.jpg

Detail Analysis

link.png

Date:

Status:

Count:

Contributor:

March 21, 2022

info.png

Verified

1

zerofriction.io

Loss Amount:

1,454,672

info.png

Recovered Amount:

-

Currency:

Dollars, ETH

KYC By:

Audit By:

None

None

info.png

Key Indicators

Platform:

Type:

Category:

Method:

Fantom

Protocol

Yield

Flash Loans

Extended Method:

Manipulation of LP price

Data Sources:

info.png

OneRing Finance reported that the protocol was hacked and the exploiter was able to steal 1,454,672.244369 USDC ($1,454,672.24) via flashloan attack.

The hack was made possible due to a flashloan-assisted price manipulation of the LP tokens, this led to a larger number of OShare tokens being moved from the protocol.

https://medium.com/oneringfinance/onering-finance-exploit-post-mortem-after-oshare-hack-602a529db99b

It is a bit strange the contract is being audited by Certik when this flash loan attack took place and the attacker contract and their footprints are completely obfuscated.

The contract has been configured to self-destruct at a specific block, making it almost impossible to track what specific functions from our contracts were called in order to steal the funds. This only tells us that the hacker is a professional, and since we were the only protocol being exploited, this attack was planned.

info.png

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.