Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.
Fantom-based DeFi lending protocol Scream caused $35 million in bad debt after failing to adjust the price of two de-pegged USD stablecoins. The two stablecoins are Fantom USD (FUSD) and Dei (DEI). Both stablecoins are still quoted at $1, according to data from the Scream dashboard. However, their trading prices have been severely de-pegged. Among them, FUSD fell to $0.69, and DEI fell to a low of $0.52. Whale players took advantage of this situation to deposit large amounts of FUSD and DEI at a discount, and siphoned all other stablecoins from the Scream platform. Stablecoins such as Fantom USDT, FRAX, DAI, MIM, and USDC have all been withdrawn from the platform. As a result, users who originally had deposits in these stablecoins would not be able to withdraw from Scream. Attack method (per SlowMist): Stablecoin prices de-anchor. Reported loss: $ 35,000,000.
- chain
- —
- protocol
- Scream
- bug_class
- unknown
- date_occurred
- 2022-05-16
- loss_usd
- $35,000,000
- source_id
- sm:scream::2022-05-16