Garden Finance, Moonwell, DMi Token: $11.9M Lost to Private Keys, Price Oracles, and Token Transfer Bugs
In Brief
DMi Token lost $124K due to a transfer function error.
Moonwell lost $1M after a faulty oracle priced wrsETH at $5.8M.
Garden Finance lost $10.8M due to compromised private keys.
Hacks Analysis
DMi Token | Amount Lost: $124K
On December 8th, the DMi Token exploit on the BNB chain resulted in a $124K loss. The root cause of the exploit was a logic error in the transfer() function. When DMi tokens were sent to the PancakeSwap pair contract, the function redirected the entire amount to a fee address (outfee_add) instead of delivering them to the pair. This caused the pair’s actual token balance to desynchronize from its internal reserves used for pricing. This allowed the attacker to reduce the token reserves and artificially inflate the price to make a profit.
On November 4th, the Moonwell exploit on Base network resulted in a $1M loss due to a faulty price oracle. The root cause of the exploit was that Moonwell used a low-liquidity, delisted Chainlink price oracle for wrsETH that reported secondary market prices instead of the canonical exchange rate. The oracle incorrectly priced wrsETH at $5.8M (instead of ~$3,100). This allowed the attacker to borrow assets against overvalued collateral and drain funds.
On October 31st, the Garden Finance exploit on multiple chains resulted in a $10.8M. The root cause of the exploit was a private key compromise of the contract that managed bridge funds. The attacker transferred 501 BNB and 1,910 ETH to Tornado Cash. The Garden Finance acknowledged the incident and offered a 10% whitehat bounty for fund return.
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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.
