Pine Protocol

Pine Protocol Suffers $92,000 Security Breach

December 21, 2023
Attack Types: 
Smart Contract Exploit ,Flash Loan Attack
Entity Types: 
DeFi ,Lending Platform
Target Entities: 
Pine Protocol

Summary # Pine Protocol, a decentralized, non-custodial asset-backed lending platform, suffered a security breach on December 21, 2023, due to a vulnerability in its smart contract on the Ethereum Mainnet. This exploit resulted in a loss of approximately 40 ETH ($92,000), exploiting the protocol across multiple transactions. The attack was facilitated by a flaw related to shared pools between two different contracts within the platform. Attackers # The identity of the attacker is unknown. ...