WUSD is a stable coin backed by USDT and WEX.
When you mint WUSD with USDT, 1/10 of the deposit will be used for market buy WEX and then use the WEX bought as part of the reserve.
At around 2 AM UTC on Aug 4, Wault’s WUSD on BSC…
At around 8 AM UTC on July 14, ApeRocket’s MATIC-DAI vault on Polygon was exploited and drained $1M (521 ETH) out of the SPACE token LP on Polygon.
Check out the Transaction Details on PolygonScan.
At around 4:30 AM UTC on July 14, ApeRocket’s CAKE vault was exploited and drained $260K (883 BNB) out of the SPACE token LP on ApeSwap.
Check out the Transaction Details on BscScan.
At around 3:48 AM UTC on Jun 28, a hacker managed to mint a huge amount of SDO (an algo stablecoin on Polygon) and dumped them into the market.
That’s a lot.
As a result, the hacker has taken out 202k USDC and 46k USDT. …
At around 4:40 AM UTC on Jun 21, $0.5M (229.84 ETH) was stolen from Impossible Finance.
Using a vulnerability in the LP contract, the hacker managed to swap IF into BUSD at about the price 2 times in a row, which is usually “Impossible” because of the slippage.
On Jun 03, about 2 AM UTC, with a lot of Hunny tokens minted out and dumped, the hacker has taken out 38.9 ETH.
Disclosures: Merlin Lab has engaged WatchPug to perform the 4th audit on their updated security code.
On May 26, 2021, 03:59:05 AM +UTC, less than 48 hrs after the Autoshark hack. Merlin Lab, well, another Bunny fork, been attacked in a similar fashion to the Bunny and the Autoshark hack.
On May 24, 2021, 09:41:49 PM +UTC, less than 5 days after the bunny hack. A copycat hacker used 100K BNB of flash loan and minted 135M of SHARK token from Autoshark, a copycat of Bunny.
As a result, the hacker has taken out 2.2k WBNB.
Check out the Transaction…
The root cause: lack of understanding of the dependent smart contracts.
On May 19, 2021, 10:34:28 PM +UTC, with two transactions, the hacker used 2.3M BNB and 2.9M USDT of flash loan and minted 6,972,455 BUNNY token.
As a result of this exploit, the hacker has taken out 114k WBNB…