Detail Analysis
Date:
Status:
Count:
Contributor:
November 14, 2020
Verified
3
zerofriction.io
Loss Amount:
6,000,000
Recovered Amount:
-
Currency:
Dollars, USDC, USDT and Dai
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:
Protocol
Flash Loans
Extended Method:
Flash loan attack, oracle manipulation
Data Sources:
The Value DeFi protocol was attacked by a flash loan on Saturday. It is reported that the attacker borrowed 80,000 ETH from the Aave protocol, executed a lightning loan attack, and arbitrage between DAI and USDC. After the attacker used $7.4 million DAI, he refunded $2 million to Value DeFi and retained $5.4 million. In addition, the attacker left a mocking message to the Value DeFi team: "Do you really understand lightning loans?" Value DeFi claimed on Twitter on Friday that it has the function of preventing lightning loan attacks. After inquiry, the tweet no longer exists. Subsequently, the Value DeFi team tweeted to confirm that its MultiStables vault had been subjected to "a complex attack with a net loss of 6 million US dollars." It is currently conducting post-event analysis and is exploring ways to reduce the impact on users.
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