Sturdy Finance

Sturdy Finance Loses $800K to DeFi Exploit

June 12, 2023
Attack Types: 
Flash Loan Attack ,Smart Contract Exploit
Entity Types: 
DeFi ,Lending Platform
Target Entities: 
Sturdy Finance

Summary # On June 12, 2023, Sturdy Finance, a DeFi protocol on the Ethereum blockchain known for its lending and borrowing services, was compromised in a security breach. Attackers exploited a vulnerability in the protocol’s price oracle, combined with a read-only reentrancy flaw, orchestrating a theft of approximately $800,000. Attackers # The identity of the hackers who attacked Multichain is unknown. Hacker Ethereum Wallet: 0x1E8419E724d51E87f78E222D935fbbdeb631a08B Losses # 442 ETH (800,000 USD) Timeline # June 12, 2023, 01:06:35 AM UTC: The malicious transaction occurred. ...