ChainBleedv0.1 · open intel
← back to feed·MULTIFLASHLOAN2024-04-19 · 2y ago
Incident · DEFILLAMA

Hedgey

Claim Contract Flashloan Exploit
Estimated loss
$44.70M
VERDICT —AUDIT-CATCHABLE
Missing checks-effects-interactions on a creation-and-claim flow with no atomic fund pull. An invariant extractor stating `sum(allocations) <= contract.balanceOf(token)` at end-of-tx breaks immediately; an attacker persona finds it from the function signature alone.
▰ METHOD
Claim Contract Flashloan Exploit
FLASHLOANBYTECODE CATCHABLEAI SCANNABLE
Root cause

Hedgey's `ClaimCampaigns.createLockedCampaign()` accepted a `Campaign` struct, a `ClaimLockup`, and an array of `donor` allocations, then *did not pull the campaign funds in the same transaction* — it trusted that the caller's balance backed the eventual claims. The attacker used a flashloan to obtain the ERC-20 needed to satisfy any internal balance check at creation, called `createLockedCampaign`, immediately called `claim()` to drain the just-funded campaign back to themselves (or used the campaign's own approval pattern to pull funds), then repaid the flashloan. The transaction never required atomic funds-locked-equals-allocations, so the attacker manufactured a fully-funded campaign on borrowed liquidity and walked away with the protocol's tokens by claiming as a beneficiary. The bug was duplicated across multiple chains (Ethereum, Arbitrum, Optimism, Polygon, Base) because the same `ClaimCampaigns` contract was deployed on each.

▰ PROOF OF CONCEPT
DEFIHACKLABS
src/test/2024-04/HedgeyFinance_exp.sol
view forked test on github ↗

Reproducible Foundry test fork from SunWeb3Sec/DeFiHackLabs. Clone the repo, run forge test against the file path above, and replay the exploit against a mainnet fork at the historical block. Use for reproduction only — not for live targets.

Forensic narrative

Classification: Ecosystem. Technique: Claim Contract Flashloan Exploit. Target type: DeFi Protocol. Affected chains: Arbitrum, Ethereum. Implementation language: Solidity.

Primary source
https://rekt.news/hedgey-rekt/
Sourced from
DefiLlama Hacks dataset · api.llama.fi/hacks
Technical record
chain
multichain
protocol
Hedgey
bug_class
flashloan
date_occurred
2024-04-19
loss_usd
$44,700,000
classification
Ecosystem
technique
Claim Contract Flashloan Exploit
target_type
DeFi Protocol
language
Solidity
source_id
dl:adhoc:hedgey:1713484800
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