Atlantis Loans Hack
Reported loss
$2.5M
Governance takeover and approval drain
What happened
In June 2023, a malicious governance proposal gave an attacker control of Atlantis Loans contracts on BNB Chain. The attacker installed code that drained wallets with outstanding token approvals. Revoke.cash reports over $2.5 million stolen.
Technical root cause
A governance takeover enabled malicious contract updates that abused existing token allowances. Affected assets came from approved user wallets.
How it happened
- The abandoned protocol's contracts and users' token approvals remained active.
- The attacker passed a governance proposal and updated contracts with malicious code.
- The updated contracts transferred assets from wallets that had authorized Atlantis Loans to spend their tokens.
Protocol details
Classification
Protocol Logic / Governance Takeover
Protocol Type
Lending
Affected asset / contract
ATL
Implementation language
Solidity
Protocol links
Website
@atlantis_loans
Security review history
- PeckShield View report
Evidence
- report @peckshield incident report twitter.com
- report @0xJ1M incident report twitter.com
- analysis Website reference neptunemutual.com
- analysis DeFiLlama defillama.com
- analysis Explained: The Atlantis Loans Hack (June 2023) halborn.com
- analysis 2023 Atlantis Loans Hack: Check if you are affected revoke.cash
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