ChainBleedv0.1 · open intel
← back to feed·LOGIC2024-04-30 · 2y ago
Incident · SLOWMIST

Pike Finance

Contract Vulnerability
Estimated loss
$1.68M
VERDICT —UNRATED
Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.
▰ METHOD
LOGIC
LOGICBYTECODE CATCHABLEAI SCANNABLE
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.

▰ PROOF OF CONCEPT
DEFIHACKLABS
src/test/2024-04/PikeFinance_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

On April 30th, the cross-chain lending protocol Pike Finance tweeted that its Pike Beta protocol had been attacked, resulting in losses of 99,970.48 ARB, 64,126 OP, and 479.39 ETH. The exploit was caused by weak security measures in Pike's contract functions when handling CCTP transfers. On April 26th, Pike Finance's USDC pool was hacked, resulting in losses of approximately $300,000. Attack method (per SlowMist): Contract Vulnerability. Reported loss: $ 1,680,000.

Primary source
https://twitter.com/PikeFinance/status/1785572875124330644
Sourced from
slowmist
Technical record
chain
protocol
Pike Finance
bug_class
logic
date_occurred
2024-04-30
loss_usd
$1,680,000
source_id
sm:pike-finance::2024-04-30
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