BearnDAO Hack

Bearn DAO exploited through price manipulation attack on BSC, leading to a loss of approximately $769,000 in assets.

Bearn DAO, a decentralized reserve currency protocol on the Binance Smart Chain, was exploited on December 6, 2023. A vulnerability in the smart contract allowed the attacker to manipulate token swap ratios and execute a profitable sandwich attack. The attacker exploited the BvaultsStrategy contract's convertDustToEarned function, which relied on the current balance of the wantToken token.

By manipulating the ALPACA/WBNB pool and invoking the convertDustToEarned function, they artificially inflated the swap ratio, resulting in a loss of approximately $768,358 worth of assets. The exploiter then swapped the stolen BUSD to WBNB via 1inch, sent it to another EOA, and deposited it into TornadoCash. The Bearn team sent an on-chain message to the attacker, requesting a refund of a portion of the stolen funds to reimburse affected users.

Attacker Address:

https://bscscan.com/address/0xCE27b195…328dd5

Malicious Transaction:

https://bscscan.com/tx/0x51913be3…1edd5f

Malicious Contract Address:

https://bscscan.com/address/0xe1997bC9…4fDAaa

Onchain Message from BearnDAO Team:

https://bscscan.com/tx/0xc0300811…cdc942

TornadoCash Deposit Transaction:

https://bscscan.com/tx/0x25892a61…070904