Nowswap K value verification vulnerability: $1.00M Reported Loss
Nowswap, a decentralized exchange on Ethereum, was attacked by a flash loan.
- Reported loss
- $ 1,000,000
- Attack category
- K value verification vulnerability
Incident Overview
The attacker emptied Nowswap’s liquidity pool. The liquidity pool was reduced from US$1,069,197 to US$24.15. The attacker made a profit of 536,000 USDT and 158 WETH. A total of more than 1 million US dollars. The attacker used the K value verification vulnerability in the Nowswap USDT/WETH transaction pair contract to perform multiple exchanges, and each exchange obtained multiple times the normal due assets, until the assets in the trading pair pool were exhausted.
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.