Cover Protocol Contract Vulnerability: $3.00M Reported Loss
Twitter netizens said that due to a loophole in the award contract, the coverage agreement lost $3 million.
- Reported loss
- $ 3,000,000
- Attack category
- Contract Vulnerability
Incident Overview
Conversion, the data on the chain shows that attackers (0xf05Ca...943DF) have used the cover contract to issue a total of about 10,000 COVER, and have replaced them with assets such as WBTC and DAI. Later, the blockchain browser showed that the attacker (address label Grap Finance: Deployer) who made a profit of 3 million US dollars by issuing additional COVER returned 4350 ETH to the address labelled YieldFarming.insure: Deployer. CoverProtocol officially tweeted announcing that it will provide a new COVER token based on the snapshot before the breakthrough was repeated. And the 4350 ETH returned by the attacker will also be returned to LP token holders through snapshot processing.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.