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Jul 15, 2024

$1.4M
Lost
$1.4M
Recovered
$0
Net loss
$1.4M
Unrecovered0% recovered

An attacker flash loaned USDY tokens, triggering a reentrancy attack during the transfer fallback function. Exchange rate updates executed immediately after borrow operations, allowing the attacker to manipulate rates and liquidate user positions for mETH and WETH.

How the exploit worked

View reproducible PoC

Reentrancy.

Lost: ~427 ETH

Source: DeFiHackLabs (SunWeb3Sec)

Target
DeFi
Classification
Reentrancy
Technique
Reentrancy
Attribution
Unknown
Chains
Mantle

Event timeline

  1. Jul 15, 2024
    Exploit executed — $1.4M drained via reentrancy
  2. Attributed to Unknown
  3. Recovery status Unrecovered 0%

Data credits

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