Cryptocurrency
[loss] $275,000
"Saddle Finance"
Primary Source ↗Financial Loss
$275,000
(275,000 USD)
Blockchain(s)
Bitcoin
Incident Details
The Saddle Finance defi project, a fork of the Curve Finance project, launched on January 20. It promised it would “eliminate slippage”.The project was exploited only hours later, by attackers who stole more than 7.9 BTC (~$275,000) by taking advantage of high slippage on the platform.
Total loss estimated at $275,000.
Technical Details
- Initial Attack Vector
- Smart contract exploit / hack
- Vendor / Product
- Saddle Finance
Timeline
- 2021-01-19 Breach occurred
- 2021-01-19 Publicly disclosed