$17M Lost: WOOFi, Wilder World, Remilia, and Lava Lending Attacked Across Arbitrum and Ethereum
WOOFi lost $8.8M in a classic low-liquidity price manipulation. Wilder World and Remilia were hit by private key compromises totaling $7.8M. Lava Lending fell to a flash-loan driven LPT inflation attack. Four very different protocols, same theme: insecure trust assumptions.
In Brief
Lava Lending lost $340K due to a price manipulation attack.
Remilia’s private keys were compromised.
Wilder World was exploited for $1.8M.
WOOFi was targeted in a $8.8M attack.
Hacks Analysis
Lava Lending | Amount Lost: $340K
On March 29th, the Lava Lending exploit on the Arbitrum chain resulted in a $340K loss. The attacker initially borrowed ETH, USDC, and USDC.e flash loans from Balancer, Uniswap, and Aave. Subsequently, the attacker traded LPT tokens, with each transaction incurring a trading fee. This strategy reduced the liquidity of LPT tokens, artificially inflating their price and enabling the attacker to make profits.
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Exploit Contract (on Arbitrum chain): 0x10bdA01aC4E644fD84a04Dab01E15A5eDcEE46dD
On March 17th, the Remilia exploit on the Ethereum Mainnet resulted in a $6M loss. The root cause of the exploit was that the exploiter got unauthorized access to Remilia’s BitWarden account. Despite the multisig initially requiring 4 signers, the attacker had access to more than 4 private keys, enabling them to drain 300 ETH and assets valued at 544 ETH, which included REMIO and MILADY NFTs.
On March 16th, the Wilder World exploit on the Ethereum Mainnet resulted in a $1.8M loss. The root cause of the exploit was the compromise of one of Wilder World’s private keys, enabling the attacker to transfer ownership of 9 legacy vault contracts. The attacker drained 515 ETH worth of WILD and MEOW tokens. The Wilder World team acknowledged the incident and requested that the exploiter return the funds.
On March 5th, the WOOFi exploit on the Arbitrum chain resulted in a $8.8M loss. The root cause of the exploit was WOO token’s low liquidity, enabling the attacker to manipulate its price. Initially borrowing 7.7M WOO tokens and depositing them into WOOFi’s liquidity pool, the attacker artificially inflated the WOO token price, profiting after repaying the loans. The WOOFi team acknowledged the incident and proposed a 10% bounty reward to the exploiter.
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Exploit Contract (on Arbitrum chain): 0xeff23b4be1091b53205e35f3afcd9c7182bf3062
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Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
In Brief
Remitano suffered a $2.7M loss due to a private key compromise.
GAMBL’s recommendation system was exploited.
DAppSocial lost $530K due to a logic vulnerability.
Rocketswap’s private keys were inadvertently deployed on the server.
Hacks
Hacks Analysis
Huobi | Amount Lost: $8M
On September 24th, the Huobi Global exploit on the Ethereum Mainnet resulted in a $8 million loss due to the compromise of private keys. The attacker executed the attack in a single transaction by sending 4,999 ETH to a malicious contract. The attacker then created a second malicious contract and transferred 1,001 ETH to this new contract. Huobi has since confirmed that they have identified the attacker and has extended an offer of a 5% white hat bounty reward if the funds are returned to the exchange.
