SharedStake Contract Vulnerability: $500.00K Reported Loss
The Ethereum 2.0 staking solution SharedStake released an attacked report, stating that the reason the SharedStake token was minted before the official launch was due to the use of vulnerabilities in time-locked contracts (that is, smart contracts that perform certain operations at a fixed time) by internal personnel.
- Reported loss
- $ 500,000
- Attack category
- Contract Vulnerability
Incident Overview
The vulnerability was submitted to the team by the white hat Lucash-dev on April 26. Because a team member had permission to view the vulnerability, he used the vulnerability to cast a value of about 50 on the main network four times on June 19 and 23. Ten thousand USD tokens were sold and mortgaged after the official launch. Although there is not enough evidence, the core members of SharedStake suspect that it was the work of a new team member.
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.