Cryptocurrency
[loss] $5M+
Tweet thread by CertiKAlert
Primary Source ↗Financial Loss
$5.0M
(5,000,000 USD)
Blockchain(s)
Ethereum
Incident Details
An attacker was able to use a flash loan to exploit a vulnerability in the smart contract for DFX Finance, a decentralized forex trading platform. The platform suffered a loss amounting to around $5 million. The attacker subsequently laundered the funds through the Tornado Cash cryptocurrency tumbler. The attacker didn’t make off with the entire amount lost from the platform, partly due to an MEV bot snagging a significant amount of the funds.
Total loss estimated at $5,000,000.
Technical Details
- Initial Attack Vector
- Flash loan attack on smart contract
- Vendor / Product
- DFX Finance attack
Timeline
- 2022-11-10 Breach occurred
- 2022-11-10 Publicly disclosed