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Detail Analysis

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Date:

Status:

Count:

Contributor:

November 16, 2020

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Verified

1

zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

3,300,000

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Recovered Amount:

-

Currency:

Dollars,USDC, USDT and Dai

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Protocol

Flash Loans

Extended Method:

Flash loan attack, oracle manipulation

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Cheese Bank, a decentralized autonomous digital banking platform based on Ethereum, suffered a loss of USD 3.3 million due to a hacker attack. Hackers conducted a series of malicious lending operations on platforms such as dYdX and Uniswap by using automatic market maker (AMM)-based oracles, resulting in a total loss of over US$3.3 million, including US$2 million in USDC.

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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.