Giddy, BCE Token, and Resolv Exploits: $27M Lost to Signature Validation Gaps, Burn-Based Price Manipulation, and Compromised Signing Keys
A breakdown of three recent exploits across Ethereum and BSC that together resulted in $27M in losses. Giddy was drained for $1.3M through incomplete signature validation in its vault contract, where unsigned fields allowed an attacker to reuse a valid signature with modified swap parameters. BCE Token lost $679K when a burn flaw enabled an attacker to manipulate the PancakeSwap pool price using a flash loan from Venus. Resolv suffered a $25M loss after off-chain signing infrastructure was compromised, allowing unauthorized minting of 80M USR stablecoins without collateral deposits.
In Brief
Giddy lost $1.3M due to incomplete signature validation.
BCE Token lost $679K due to a burn flaw that allowed price manipulation.
Resolv lost $25M due to compromised signing keys enabling unauthorized minting.
Hacks Analysis
Giddy | Amount Lost: $1.3M
On April 23rd, the Giddy exploit on the Ethereum mainnet resulted in a $1.3M loss. The root cause of the exploit was an incomplete signature validation in giddyVaultV3’s struct VaultAuth. The protocol required a valid signature to approve swaps but the signature only covered part of the swap data. Critical fields such as fromToken, toToken, amount, and aggregator were not included in the signed message. This allowed the attacker to reuse a valid signature while changing the unsigned fields. The attacker modified token approvals, swap targets, and amounts, then redirected funds to their own address.
On March 23rd, the BCE Token exploit on BSC resulted in a $679K loss. The root cause was a flaw in BCE’s token contract that allowed an attacker to burn tokens directly from the PancakeSwap liquidity pool, manipulating the token price. The attacker took a flash loan from Venus, bought and sold BCE to trigger a burn that removed nearly all BCE from the pool. Once the BCE token price was artificially increased, the attacker sold the remaining BCE tokens and made a profit.
Exploited Contract (on BSC): 0xcdb189d377ac1cf9d7b1d1a988f2025b99999999
On March 22nd, the Resolv exploit on the Ethereum mainnet resulted in a $25M loss. The root cause was a compromise of off-chain signing infrastructure that resulted in authorized minting of $80M USR stablecoins. The attacker gained access to the signing key by compromising infrastructure credentials and modifying access policies. With signing authority, the attacker executed two transactions minting 80M USR tokens without depositing collateral.
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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.
