Monday, June 30, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Dough Finance flash loan attack: What we know so far

July 15, 2024
in Scam Alert
Reading Time: 2 mins read
0 0
A A
0
Home Scam Alert
Share on FacebookShare on TwitterShare on E Mail


Dough Finance misplaced $1.8M in a flash mortgage assault as a result of sensible contract vulnerability.
Attacker exploited unvalidated calldata stealing USDC earlier than changing the belongings into 608 ETH.
Customers urged to withdraw funds to safe wallets.

Dough Finance has fallen sufferer to a big flash mortgage assault, leading to a staggering lack of digital belongings value roughly $1.8 million.

The assault, which exploited vulnerabilities within the protocol’s sensible contract, highlights ongoing safety challenges inside the cryptocurrency area, and particularly inside the DeFi area.

What happed within the Dough Finance assault?

The assault, detected on July 12 by Web3 safety agency Cyvers, focused Dough Finance’s “ConnectorDeleverageParaswap” sensible contract.

This contract, designed to facilitate transactions inside the DeFi platform, didn’t adequately validate name knowledge throughout flash mortgage executions giving the attacker an opportunity to govern transaction particulars and illegally switch of 608 Ether (ETH), valued at roughly $1.8 million on the time of the assault.

The funds, initially within the type of USD Coin (USDC), had been swiftly transformed into ETH utilizing the zero-knowledge protocol Railgun, complicating efforts to hint and recuperate the stolen belongings.

Who had been affected by the flash mortgage assault?

The Dough Finance flash mortgage assault primarily affected customers who had funds deposited within the exploited contract of Dough Finance.

Whereas the lending swimming pools of Aave, one other distinguished DeFi platform, remained unaffected, the incident underscores the vulnerability of sensible contracts and the potential dangers related to decentralized finance protocols.

Safety specialists, together with Olympix, emphasised the significance of customers withdrawing their funds to safe wallets and refraining from interacting with Dough Finance till the platform points clear steerage on security measures.

🚨🚨#OlympixAlert

Consideration @DoughFina Customers: Exploit Alert!

Dough finance has been exploited for roughly ~$1.8 million in USDC! Here is a breakdown of the state of affairs primarily based on accessible data:

❓What Occurred?

The exploit stemmed from unvalidated calldata inside the… pic.twitter.com/NBcCwsMl10

— Olympix (@Olympix_ai) July 12, 2024

Remarkably, the assault on Dough Finance provides to a regarding development of safety breaches plaguing the cryptocurrency business in 2024.

In response to a latest report by CertiK, on-chain assault incidents have already led to losses exceeding $1.19 billion within the first half of the 12 months, with phishing assaults and personal key compromises contributing considerably to those figures.

Share this articleCategoriesTags





Source link

Tags: AttackDoughFinanceFlashLoan
Previous Post

QuickAlerts Alternative – Exploring the Best Way to Stream On-Chain Data – Moralis Web3

Next Post

Binance Scheduled to Face Tax Evasion Charges in Nigerian Court This October

Related Posts

Inside the $90M Nobitex hack: a layer-by-layer breakdown
Scam Alert

Inside the $90M Nobitex hack: a layer-by-layer breakdown

June 28, 2025
You’re Hired! North Korea’s new crypto scam starts with a job offer
Scam Alert

You’re Hired! North Korea’s new crypto scam starts with a job offer

June 20, 2025
Russian crypto CEO charged in $530M laundering scheme tied to US sanctions
Scam Alert

Russian crypto CEO charged in $530M laundering scheme tied to US sanctions

June 10, 2025
Coinbase data breach spills offline as victims get scam mail
Scam Alert

Coinbase data breach spills offline as victims get scam mail

June 6, 2025
Crypto ATM scams in Australia cause over AUD 3.1 million in losses
Scam Alert

Crypto ATM scams in Australia cause over AUD 3.1 million in losses

June 4, 2025
India, Indonesia leads with 30,000 cases
Scam Alert

India, Indonesia leads with 30,000 cases

May 31, 2025
Next Post
Binance Scheduled to Face Tax Evasion Charges in Nigerian Court This October

Binance Scheduled to Face Tax Evasion Charges in Nigerian Court This October

Into the (Branded) Metaverse | Obsess

Into the (Branded) Metaverse | Obsess

Why Blockbuster Games Will Soon Be Built on Modular Appchains

Why Blockbuster Games Will Soon Be Built on Modular Appchains

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In