Cryptocurrency
[loss] $1M+
Tweet thread by Bacon Protocol
Primary Source ↗Financial Loss
$1.0M
(1,000,000 USD)
Blockchain(s)
Ethereum
Incident Details
Bacon Protocol, a defi project seeking to provide NFT mortgage liens (yes, really) was hacked. A reentrancy bug in their smart contract enabled attackers to get more lending credits than they should have been allowed, and was exploited for a total loss to Bacon Protocol of around $1 million.
Total loss estimated at $1,000,000.
Technical Details
- Initial Attack Vector
- Reentrancy attack on smart contract
- Vendor / Product
- Bacon Protocol
Timeline
- 2022-03-05 Breach occurred
- 2022-03-05 Publicly disclosed