Hashing Bits, 14th August
Neko Network - DAO Maker - Punk Protocol - Zerogoki
Hacks:
→ Neko Network
Neko Network, a leading lending protocol in the Binance Smart Chain, developed by the Zero Coupon Money Market Protocol, Maze Protocol team, was a victim of yet another hack where the hacker exploited vulnerabilities in the protocol to mortgage assets in the name of the user and sent the borrowed funds to the attacker’s wallet address. All asset pools have been freezed to avoid damages.
→ DAO Maker
DAO Maker’s CEO announced that their SHO smart contract was exploited by an attacker resulting in the loss of $7M. The hacker used the DAO Maker wallet and gained administrator rights. A total of 10,000 USDC were stolen and another 15 transactions were made. Total users affected are 5,251.
→ Punk Protocol
Punk Protocol, a decentralised annuity protocol, stated that they were hacked during their launch process, losing $8.9M. The hacker exploited a critical vulnerability in their investment strategy and cashed out more than $8.9M in USDC, USDT and DAI from the Forge-Compound module. Later, the team was able to successfully recover $4.95M and transfer them into a secure wallet. This takes the total loss to $3.9M.
→ PolyNetwork
The world’s largest DeFi hack occurred today. PolyNetwork, a cross-chain interoperability protocol, announced that they were hacked on the Ethereum, Polygon and Binance Smart Chain and lost more than $613M in the hack. With the efforts of the parties involved, the hacker has returned most of the funds to the team.
→ Zerogoki
Zerogoki, a leveraged synthetic assets minting platform based on the Duet Protocol experienced an oracle attack resulting in the price fluctuation of $zUSD. Total loss occurred in the incident is $670K.
Vulnerability Writeups:
Neko Hacking Incident Report by Maze Protocol Team.
The Analysis of the DAO Maker Attack by BlockSec Team.
Punk Protocol Fair Incident Report by Punk Protocol team.
The Analysis and Q7A of PolyNetwork Being Hacked by Slowmist team.
The Analysis of The Zerogoki Attack by BlockSec Team
DeFi Security:
DEF CON 29 Blockchain Village Playlist