Moby

Private Key Leakage

Estimated loss

$2.50M

VERDICT —OUT OF SCOPE

Root cause is private-key / signer compromise — the on-chain contract behaved exactly as written. No pre-deployment source audit or bytecode review reaches the key-custody perimeter; this is operational-security territory (HSM/MPC hygiene, key rotation, hot-wallet isolation). Bytecode would show nothing wrong.

▰ METHOD

PRIVATE KEY

PRIVATE-KEY

Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

Forensic narrative

According to Moby Post-Mortem Report, on January 8, an attacker took control of the Private Key used to authorize upgrades to Moby’s core contracts, compromising the protocol. This led to the exposure of 3.77 wBTC, 207.76 wETH, and 1,500,351.5 USDC in the sOLP and mOLP liquidity pools. Of the stolen funds, 1,470,091.74 USDC was recovered with the assistance of Seal911 team. Attack method (per SlowMist): Private Key Leakage. Reported loss: $ 2,500,000.

Primary source

https://medium.com/moby-trade/moby-post-mortem-report-growth-plan-504ad5b0dd35 ↗

Sourced from

slowmist

Technical record