Abracadabra Money Hack

TOTAL LOST $111K
Low Oracle Manipulation & Price Manipulation

What happened

Quick Summary

Abracadabra Money was exploited via the oracle issue. The attacker used temporarily $MIM depegging and profited for 110,911 $USD.

Details of the Exploit

Abracadabra.Money is a decentralized protocol providing staking, lending, and borrowing opportunities. The protocol's lending pool was exploited via the oracle issue. Temporarily depegging of $MIM stablecoin allowed the attacker to withdraw 110,911 $MIM tokens at nearly zero cost using a deployed smart contract with unverified source code.

All the stolen funds were transferred through Tornado Cash.

Block Data Reference

Attacker address:

https://etherscan.io/address/0xb7ea0f0f…688005

Malicious transaction:

https://etherscan.io/tx/0x3d163bfb…537c78

Malicious contract:

https://etherscan.io/address/0x8c761066…11fd4d

Case & protocol details

Classification Exchange (DEX),Stablecoin,Borrowing and Lending
Protocol Type Exploit/Oracle Issue
Affected asset / contract MIM
Official Website abracadabra.money/
Protocol Twitter/X @MIM_Spell

Evidence & learning

Attack pattern

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Oracle Manipulation & Price Manipulation

Sources and on-chain records

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Other incidents recorded with the same attack technique.

Tectonic Protocol $75.0M
Curve Lend $240K
Blend Protocol $10.9M
Valinity $63K

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