Saddle Finance

Exploit

Estimated loss

$275.0K

VERDICT —UNRATED

Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.

▰ METHOD

Undisclosed

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

DeFi protocol Saddle Finance was launched on Jan. 20, with the aim of alleviating the problematic spread between stablecoins and wrapped or tokenized crypto assets. Within a few hours of going live, however, whales had taken advantage of the new protocol by arbitraging for huge profits. Reported loss: $275,000.

Primary source

https://beincrypto.com/arbitraging-defi-whales-exploit-saddle-finance-launch-day/ ↗

Sourced from

chainsec

Technical record