Credix, Future Protocol, Rant: $9.3M Lost to Phantom Collateral, Burn Loops, and Abandoned Recovery
Credix’s compromised multisig minted fake acUSDC and drained $4.5M before the team disappeared. Future Protocol’s FPC burn mechanics let a flash borrower walk away with $4.6M. Rant’s liquidity-pair burn on transfer() inflated price for a $204K exit. When burn logic boosts value, it’s a bug, not a feature.
In Brief
Credix lost $4.5M due to a compromised multisig contract.
Rant lost $204K due to a price manipulation in the transfer() flow.
Future Protocol lost $4.6M due to a price manipulation exploit that burned pool tokens to inflate the FPC price.
Hacks Analysis
Credix | Amount Lost: $4.5M
On August 4th, the Credix exploit on Sonic resulted in a $4.5M loss due to a compromised multisig. Six days before the attack, the attacker gained unauthorized access to Admin and Bridge roles through the ACLManager contract. With the Bridge role, the attacker minted unbacked acUSDC tokens without collateral. The attacker then used these phantom tokens as collateral to drain from the protocol. Minutes after the exploit, Credix disabled its website to block new deposits shortly after the exploit. Credix then stated that all funds would be recovered within 48 hours but later deleted its social media accounts and took its website offline.
Press enter or click to view image in full size
Exploited Contract (on Sonic): 0xF321683831Be16eeD74dfA58b02a37483cEC662e
On July 5th, the Rant Token exploit on the BNB chain resulted in a $204K loss due to a price manipulation attack. The attacker called the transfer() function to trigger _transfer() and _sellBurnLiquidityPairTokens() functions. These functions pulled Rant tokens directly from the uniswapPair balance and sent a portion to 0xdead. Burning from the pool reduced the token reserve, artificially inflated the Rant token price and allowed the attacker to make a profit.
Press enter or click to view image in full size
Exploited Contract (on BNB): 0xc321ac21a07b3d593b269acdace69c3762ca2dd0
On July 2nd, the Future Protocol exploit on the BNB chain resulted in a $4.6M loss due to a price manipulation attack. The attacker took a 23M USDT flash loan and bought FPC from the FPC-USDT pool. When the attacker sent the FPC back to the pool, 65% of the tokens burned which reduced the pool’s FPC reserve but kept the USDT reserve high. The manipulated ratio drove up the FPC price, letting the attacker swap the remaining FPC for a large amount of USDT, repay the flash loan, and keep the profit.
Press enter or click to view image in full size
Exploited Contract (on BNB): 0xb192d4a737430aa61cea4ce9bfb6432f7d42592f
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
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.
