Abracadabra, NGP, Kame: $5M Lost to Solvency Bypass, Price Games, and Unsafe External Calls
Three exploits, one theme: broken contract boundaries. Abracadabra’s cook() logic disabled its own collateral checks. New Gold Protocol let flash loans distort its AMM price. Kame Aggregator opened the door to malicious multicalls. If your protocol blindly trusts inputs, defaults, or delegatecalls — you’re not secure.
In Brief
Abracadabra lost $1.7M because the cook() function cleared solvency checks and allowed the attacker to borrow without collateral.
New Gold Protocol lost $2M due to a price manipulation attack using flash loans.
Kame Aggregator lost $1.3M when swap() allowed arbitrary external calls.
Hacks Analysis
Abracadabra | Amount Lost: $1.7M
On October 4th, the Abracadabra exploit on the Ethereum Mainnet resulted in a $1.7M loss. The root cause of the exploit was a logic vulnerability in the CauldronV4 contract’s cook() function. The attacker called this function with actions [5, 0]. Action 5 (ACTION_BORROW) borrowed funds and set status.needsSolvencyCheck = true. Action 0 was undefined, so the ‘else’ in the if statement executed _additionalCookAction(), which cleared needsSolvencyCheck and skipped collateral verification. The attacker then borrowed assets without collateral and made a profit.
On September 17th, the New Gold Protocol exploit on the BNB Chain resulted in a $2M loss due to a price manipulation attack. The attacker first borrowed $211M using flash loans and used it to reduce the NGP balance on PancakeSwap from 477K to 0.035. This reduced NGP liquidity, artificially inflated the token price and allowed the attacker to make a profit.
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NGP Token Contract (on BSC): 0xd2f26200cd524db097cf4ab7cc2e5c38ab6ae5c9
On September 12th, the Kame Aggregator exploit on Sei resulted in a $1.3M loss. The root cause of the exploit was that the swap() function allowed arbitrary external calls without validation. The attacker exploited this by passing a malicious Multicall contract as the executor parameter. This allowed the attacker to drain funds from 830 users who had granted token approvals to the router. The attack succeeded because users had set unlimited or excessive allowances for the AggregationRouter contract.
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Exploited Contract (on SEI): 0x14bb98581ac1f1a43fd148db7d7d793308dc4d80
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Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
In Brief
Remitano suffered a $2.7M loss due to a private key compromise.
GAMBL’s recommendation system was exploited.
DAppSocial lost $530K due to a logic vulnerability.
Rocketswap’s private keys were inadvertently deployed on the server.
Hacks
Hacks Analysis
Huobi | Amount Lost: $8M
On September 24th, the Huobi Global exploit on the Ethereum Mainnet resulted in a $8 million loss due to the compromise of private keys. The attacker executed the attack in a single transaction by sending 4,999 ETH to a malicious contract. The attacker then created a second malicious contract and transferred 1,001 ETH to this new contract. Huobi has since confirmed that they have identified the attacker and has extended an offer of a 5% white hat bounty reward if the funds are returned to the exchange.
