Cryptocurrency
[loss] $22M+
"Venus Protocol Official Statement regarding LUNA"
Primary Source ↗Financial Loss
$21.8M
(21,800,000 USD)
Blockchain(s)
Terra, Avalanche, Bsc
Incident Details
Earlier today, Terra halted their blockchain after a devastating few days. Subsequently, Chainlink’s oracle paused the price feed, causing it to fall out of sync with the apparent market price of the token. This enabled multiple attacks on various platforms.$13.5 million was fraudulently borrowed from the Venus protocol on BSC. Blizz Finance on Avalanche reported their protocol had been entirely drained, amounting to around $8.3 million. Blizz subsequently announced in a post-mortem that “Blizz has no treasury or development fund and a significant portion of the stolen assets belonged to our team. As such we regret to announce the protocol has been paused and we do not intend to resume operations.”
Total loss estimated at $21,800,000.
Technical Details
- Initial Attack Vector
- Smart contract exploit / hack
- Vendor / Product
- Terra oracle attacks
Timeline
- 2022-05-12 Breach occurred
- 2022-05-12 Publicly disclosed