DRLVaultV3, 402Bridge, Sharwa Finance: $263K Lost to Slippage Failures and Key Compromises
Two protocols forgot slippage protection. One lost control of a private key. DRLVaultV3 trusted manipulated prices. Sharwa let swaps go through unchecked. 402Bridge handed over its bridge to an attacker. These are rookie-level failures with multi-chain impact.
DRLVaultV3 lost $98K due to faulty slippage protection.
402Bridge lost $18K after attackers compromised private keys.
Sharwa Finance lost $147K due to missing slippage protection.
Hacks Analysis
DRLVaultV3 | Amount Lost: $98K
On November 10th, the DRLVaultV3 exploit on the Ethereum mainnet resulted in a $98K loss. The root cause of the exploit was a logic error that failed to provide slippage protection. The attacker first borrowed USDC from Morpho Blue and purchased large amounts of WETH, artificially inflating WETH’s price in the pool. The attacker then triggered the vault’s swapToWETH() function which calculated the amountOutMinimum with a 0.5% slippage tolerance. Because the slippage protection referenced the already-manipulated price instead of a true market price, it failed to prevent the manipulated trade. The vault swapped its USDC for WETH at the inflated price.
On October 27th, the 402Bridge exploit on Base chain resulted in a $18K loss due to a private key compromise. The attacker was able to transfer the ownership of 402Bridge’s bridge contract and drained USDC from accounts that had previously granted spending permissions. The stolen funds were converted to ETH and bridged to Arbitrum. The domain 402bridge.fun had been registered just two days before the attack and was shut down immediately after.
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Exploited Contract (on Base): 0xed1afc4dcfb39b9ab9d67f3f7f7d02803cea9fc5
On October 20th, the Sharwa Finance exploit on the Arbitrum chain resulted in a $146K loss across two attacks. The root cause was that the Sharwa Finance contract was missing slippage protection for swaps. The attacker first deposited USDC collateral, added liquidity to bypass lending limits, and opened a long WBTC position with borrowed USDC. Using a flash loan, the attacker sold WBTC on Uniswap to decrease the price. The attacker repurchased WBTC at the manipulated price, repaid the flash loan, and made a profit.
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Exploited Contract (on Arbitrum): 0x5c479762c8fe57b6d874893a4b4932b40f612580
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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.
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