Penpie, Converge Finance, Astroport, and Novax Exploited for $33.6M via Reentrancy, Oracle Abuse, and Injection Bugs
Penpie lost $27M after missing a reentrancy guard in its reward harvesting logic. Converge Finance was exploited for $210K through a malicious contract injected into its staking claims. Astroport suffered a $6.4M reentrancy attack via reintroduced IBC hook vulnerabilities. Novax lost $25K after its liquidity-based oracle was manipulated.
On September 3rd, the Penpie exploit on the Ethereum Mainnet resulted in a $27M loss due to a reentrancy vulnerability. The root cause of the exploit was the missing reentrancy protection in the _harvestBatchMarketRewards() function of the PendleStakingBaseUpg contract. The attacker manipulated the token balance checks used for reward distribution. By depositing additional tokens mid-process, the attacker inflated the post-reward balance, allowing them to withdraw additional rewards.
On August 6th, the Novax exploit on the BNB chain resulted in a $25K loss. The root cause of the exploit was that the protocol’s price oracle could be manipulated because it calculated token prices based on liquidity. The attacker used flash loans and increased the USDT liquidity. The oracle calculated Novax token prices using the ratio of USDT to BUSD. By inflating the USDT liquidity temporarily, the attacker artificially increased the price of Novax tokens, allowing the attacker to make a profit.
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Exploit Contract (on BNB): 0x55c9eebd368873494c7d06a4900e8f5674b11bd2
On August 1st, the Converge Finance exploit on the Ethereum Mainnet resulted in a $210K loss. The root cause of the exploit was the lack of validation in the claimContracts parameter within the claimMultipleStaking() function. The attacker injected a malicious contract into the claimContracts parameter, which allowed them to manipulate the cvgClaimable variable. This manipulation led to the minting of 58M CVG tokens.
On July 30th, the Astroport exploit on the Terra Network resulted in a $6.4M loss due to a reentrancy vulnerability linked to Inter-Blockchain Communication (IBC) hooks. The vulnerability, previously patched in April, was accidentally reintroduced during a June upgrade. The attacker exploited this by deploying a malicious contract and triggering IBC transfer timeouts, allowing them to repeatedly reenter the contract and drain funds. The losses included 60M ASTRO, 3.5M USDC, 5K USDT, and 2.7 BTC. Terra Network halted all transactions for emergency upgrades.
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Exploit Contract (on Terra Network): terra18plp90j0zd596zt3zdsf0w9vvk5ukwlwzwkksxv9mdu8rscat9sqndk5qz
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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.
