Abracadabra Money

Abracadabra Money Suffers $6.5 Million Loss Due to Smart Contract Exploit

January 30, 2024
Attack Types: 
Smart Contract Exploit ,Flash Loan Attack
Entity Types: 
DeFi ,Lending Platform
Target Entities: 
Abracadabra Money

Summary # Abracadabra Money, a prominent leverage and lending platform in the DeFi space, was exploited on January 30, 2024, due to a smart contract vulnerability on the Ethereum Mainnet. This exploit led to the unauthorized borrowing and subsequent theft of assets, totaling over $6.5 million, including 1800 ETH and 2.2 million MIM tokens. The attacker exploited the contract’s inability to accurately track the real amount of debt due to rounding errors. ...