Safemoon Contract Vulnerability: $8.90M Reported Loss
Safemoon, a DeFi protocol based on the BNB chain, was attacked, and its liquidity pool lost nearly $8.9 million.
- Reported loss
- $ 8,900,000
- Attack category
- Contract Vulnerability
Incident Overview
Safemoon CEO John Karony said on Twitter: "This security incident affected the SFM:BNB LP pool and other LP pools on DEX were not affected. We have located the suspected vulnerability and fixed it. " According to analysis, the recent update may have introduced a "public destruction vulnerability", which facilitated hacker attacks. The hacker was able to use code functionality to artificially inflate the price of SFM tokens, then sell enough tokens back to the liquidity pool in the same transaction, effectively draining WBNB from the contract. On April 20, the SafeMoon attacker returned 80% of the stolen funds, that is, transferred 21,804 BNB (approximately $7.2 million) to the SafeMoon vault wallet, leaving the remaining 20% as a bounty.
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.