Saffron Finance Contract Vulnerability: $50.00M Reported Loss
DeFi asset mortgage platform Saffron Finance issued an announcement stating that Epoch 1 redemption errors caused by contract loopholes resulted in 50 million DAI deposits deposited by Epoch 1 being locked for 8 weeks.
- Reported loss
- $ 50,000,000
- Attack category
- Contract Vulnerability
Incident Overview
The team is currently working on an emergency fix to solve this problem and will transition to Epoch 2. Saffron Finance is a DeFi asset mortgage platform released by an anonymous team. The token is SFI, allowing liquidity providers to select customized risk exposures to obtain returns. In each cycle, users can choose different risk-return combinations (A, AA, S) on Saffron to provide liquidity. A cycle of 14 days (LP locks within 14 days). After the cycle ends, users can remove liquidity and obtain Interest and prorated SFI.
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.