{"id":140618,"date":"2024-10-26T11:00:30","date_gmt":"2024-10-26T08:00:30","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140618"},"modified":"2024-10-25T19:22:15","modified_gmt":"2024-10-25T16:22:15","slug":"security-flaw-on-base-blockchain-leads-to-1-million-heist","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/security-flaw-on-base-blockchain-leads-to-1-million-heist\/","title":{"rendered":"Security Flaw on Base Blockchain Leads to $1 Million Heist"},"content":{"rendered":"

The incident, reported<\/a> <\/strong>by Cyvers Alerts on October 25, involved the manipulation of smart contracts associated with Wrapped Ether (WETH). The attacker initially extracted nearly $993,534, transferring most of it to the Ethereum network and subsequently funneling $202,549 through the privacy-focused service Tornado Cash. In addition, an extra $455,127 was taken using the same exploit.<\/p>\n

Hakan Unal from Cyvers Alerts explained that the exploited oracle relied on a single low-liquidity trading pair, making it particularly vulnerable to price manipulation. He emphasized the importance of employing more robust oracles with higher liquidity to avoid such incidents in the future. Unal also pointed out that enhanced due diligence in verifying lending contracts, especially regarding the oracles used, could help mitigate these risks.<\/p>\n

This breach raises significant concerns about the security protocols in place within decentralized finance (DeFi) platforms. As the popularity of DeFi continues to grow, so does the potential for exploitation by malicious actors.<\/p>\n