VERDICT —UNRATED
Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.
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
The administrator of OlympusDAO, a new algorithmic stablecoin protocol based on Ethereum, said on Discord, the administrator of Discord said that yesterday, someone bonds OHM/DAI bonds that are considered to be closed so that they can get a large discount and receive 1,697 OHM (over 1.4 million U.S. dollars) instead of 59 OHM (approximately US$50,000). After OlympusDAO discovered this incident, it immediately closed the bond contract. Attack method (per SlowMist): Contract Vulnerability. Reported loss: 1,697 OHM.
Primary source
https://www.theblockcrypto.com/post/125170/olympusdao-mistake-lets-user-spend-50000-to-buy-1-43-million-in-ohm ↗Sourced from
slowmist
Technical record
- chain
- ethereum
- protocol
- OlympusDAO
- bug_class
- logic
- date_occurred
- 2021-11-23
- loss_usd
- —
- source_id
- sm:olympusdao::2021-11-23
Related — same bug class· logic