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ValueDefi

May 7, 2021

$11.0M
Lost
$11.0M
Recovered
$0
Net loss
$11.0M
Unrecovered0% recovered

ValueDefi custom-weighted pools drained on May 7, 2021. Uninitialized contracts lacked the 'initialized = true' flag, allowing attacker to re-initialize, set themselves as operator/owner, and drain vBWAP/BUSD LP tokens via governanceRecoverUnsupported().

How the exploit worked

View reproducible PoC

Cross Contract Reentrancy.

Source: DeFiHackLabs (SunWeb3Sec)

Target
DeFi
Classification
Token & Share Accounting
Technique
Arithmetic Error
Attribution
Unknown
Chains
BSC

Event timeline

  1. May 7, 2021
    Exploit executed — $11.0M drained via arithmetic error
  2. Attributed to Unknown
  3. Recovery status Unrecovered 0%

Data credits

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