We are working actively on the issue of mitigating the economic attack on the Stablecoin and BTC pools, and will update in this thread in realtime as soon as additional details are available
The economic attack was performed through the curve y pool, stretching the price of the stablecoins in Curve out of proportion and depositing and withdrawing a large amount of assets through harvest.
To protect users, we've pulled y pool and btc curve strategy funds to the vault
To protect users, we've pulled y pool and btc curve strategy funds to the vault
At this point, all Stablecoin and BTC funds are in the vault (not deployed in a strategy). No other pools are affected.
To be specific: to protect users, 100% of Stablecoin and BTC curve strategy funds have been withdrawn from the strategy to the vault.
Next: to protect users, we are moving to block deposits to the Stablecoin and BTC vault
Existing deposits will continue to earn FARM
Existing deposits will continue to earn FARM
Like other arbitrage economic attacks, this one originated with a large flashloan, and manipulated prices on one money lego (curve y pool) to drain another money lego (fUSDT, fUSDC), many times.
The attacker then converted the funds to renBTC and exited to BTC
The attacker then converted the funds to renBTC and exited to BTC
Like other flashloan attacks, the attacker did not give time to respond, performing the attack in 7 minutes end to end.
Wallet of the attacker exiting through renBTC
app.zerion.io/0x3811765a53c3…
Source: @devops199fan
Wallet of the attacker exiting through renBTC
app.zerion.io/0x3811765a53c3…
Source: @devops199fan
The attacker sent back $2,478,549.94 to the deployer in the form of USDT and USDC.
This will be distributed to the affected depositors pro-rata using a snapshot
This will be distributed to the affected depositors pro-rata using a snapshot
Flashloan attacker's 10 BTC addresses:
1Paykw4s2WX4SaVjDrQkwSiJr16AiANhiM
1Paykw4s2WX4SaVjDrQkwSiJr16AiANhiM
1HLG86DDEzAxAGmEzxr1SUfPCWcnWA6bMm
14stnrgMFNR4LesqQRUdo5n1VUx9xdAMeg
18w2Bm2cCsbLjWQU9BcnjzK8ErmzozrVa3
1/2
1Paykw4s2WX4SaVjDrQkwSiJr16AiANhiM
1Paykw4s2WX4SaVjDrQkwSiJr16AiANhiM
1HLG86DDEzAxAGmEzxr1SUfPCWcnWA6bMm
14stnrgMFNR4LesqQRUdo5n1VUx9xdAMeg
18w2Bm2cCsbLjWQU9BcnjzK8ErmzozrVa3
1/2
1FS2t2eAjmjaNmADN6SMHYo7G4XGpX1osS
1NdAJ89k1qpRMpZLwuYGQ7VnM45xD2NJXa
1CLHhshrusvT4XADWA29R2H4ndsSUamEWn
1FS2t2eAjmjaNmADN6SMHYo7G4XGpX1osS
1CLHhshrusvT4XADWA29R2H4ndsSUamEWn
2/2
1NdAJ89k1qpRMpZLwuYGQ7VnM45xD2NJXa
1CLHhshrusvT4XADWA29R2H4ndsSUamEWn
1FS2t2eAjmjaNmADN6SMHYo7G4XGpX1osS
1CLHhshrusvT4XADWA29R2H4ndsSUamEWn
2/2
For the first BTC wallet that moved 295 BTC (1Paykw4s2WX4SaVjDrQkwSiJr16AiANhiM), the final wallet is 1BWiqT55Fwf5XieA6G1ziBWYZGY4pWhQoU
• • •
Missing some Tweet in this thread? You can try to
force a refresh
