Moonwell, Truebit & MSCST Exploits — $28.53M Lost to Oracle, Overflow & Flash Loan Failures
In Brief
Moonwell lost $1.8M after a mispriced oracle undervalued cbETH.
Truebit lost $26.6M due to an integer overflow.
MSCST lost $130K after a flash loan manipulated pool pricing.
Hacks Analysis
Moonwell | Amount Lost: $1.8M
On February 15th, the Moonwell exploit on Base and Optimism resulted in a $1.8M loss. The root cause was a misconfigured oracle introduced through Moonwell’s MIP-X43 update. The cbETH/USD price was calculated using only the cbETH/ETH exchange rate, without multiplying by the ETH/USD feed. This caused cbETH to be priced at roughly $1.12 instead of around $2,200. Liquidation bots exploited the mispricing, leaving Moonwell with $1.8M bad debt.
Exploited Contract (on Base): 0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22
On January 8th, the Truebit exploit on the Ethereum mainnet resulted in a $26.6M loss. The root cause was an integer overflow in the getPurchasePrice() function. The function computes token price via (v12 + v9) / v6, where both v12 and v9 were values close to the uint256 maximum. Their sum overflowed back to near zero, causing the division to return 0. Since the getPurchasePrice() function returned zero, the attacker was able to mint 240 million TRU tokens at no cost.
On December 29th, the MSCST exploit on BSC resulted in a $130K loss. The root cause was a price manipulation vulnerability. The attacker flash loaned 46.8M GPC tokens and deposited them into the GPC/WBNB PancakeSwap pool, artificially manipulating the GPC price. The attacker repaid the flash loan within the same transaction and made 149 BNB in profit.
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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.
