Cryptocurrency
[loss] $1M+
"New Free DAO crashes 99% after $1.25M flash loan attack"
Primary Source ↗Financial Loss
$1.2M
(1,250,000 USD)
Blockchain(s)
Bsc
Incident Details
A flash loan attack against the New Free DAO project resulted in a $1.25 million loss. The project’s token also crashed 99% in the wake of the theft. The hacker quickly sent 1,500 BNB ($415,000) of the stolen funds through the Tornado Cash cryptocurrency mixer, and sent another 2,900 ($803,000) to the PancakeSwap decentralized exchange.
Total loss estimated at $1,250,000.
Technical Details
- Initial Attack Vector
- Flash loan attack on smart contract
- Vendor / Product
- New Free DAO
Timeline
- 2022-09-08 Breach occurred
- 2022-09-08 Publicly disclosed