Hdr_About.jpg

Detail Analysis

link.png

Date:

Status:

Count:

Contributor:

July 14, 2021

info.png

Verified

1

zerofriction.io

KYC By:

KYC:

None

info.png

Audit By:

Audits:

None

Loss Amount:

1,260,000

info.png

Recovered Amount:

-

Currency:

Dollars, DAI, CAKE

info.png

Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Binance Smart Chain

Protocol

Yield Aggregator

Flash Loans

Extended Method:

Flash loan attack

info.png

ApeRocket, the DeFi revenue mining aggregator and optimizer, released the lightning loan attack details and compensation plan. ApeRocket's BSC version and Polygon version encountered lightning loan attacks at 4:30 AM and 8:00 AM (UTC), respectively, and lost 260,000 US dollars and 1,000,000. Without going into too much detail, in both cases substantial amounts of money were borrowed via AAVE (Polygon) and PancakeSwap (BSC). In the first case the funds were deposited on the DAI — MATIC LP vault and in the second the CAKE vault. Due to the large amount of money deposited, the hacker held more than 99% of the funds on these two vaults. Once everything was in place, large amounts of money were sent to the vault contract (flashloan). Then functions were called from these vaults and an anomalously high number of tokens were minted in response, as these CAKE generated were far greater than the reality.

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.