Cryptocurrency [loss] $3M+

Tweet thread by Conic Finance

2023-07-21 [vendor] Conic Finance [chain] ethereum
Primary Source ↗
Financial Loss $3.2M (3,217,000 USD)
Blockchain(s) Ethereum

Incident Details

A re-entrancy vulnerability in the Conic Finance defi project enabled an attacker to steal 1,700 ETH (~$3.22 million) from the project’s ETH pool.Conic Finance announced that they had disabled deposits on the front-end of their project, and were working to patch the vulnerable smart contract. The team also attempted to contact the exploiter via blockchain message, asking if they “would be open to discussing any potential next steps”.

Total loss estimated at $3,217,000.

Technical Details

Initial Attack Vector
Smart contract exploit / hack
Vendor / Product
Conic Finance

Timeline

  1. 2023-07-21 Breach occurred
  2. 2023-07-21 Publicly disclosed