What happened
BvaultsBank was exploited through a flash loan attack, resulting in a loss of 8,016,006.09 BUSD.
The attacker initiated the exploit by borrowing a flash loan of 7,804,239.11 BUSD from CREAM. This was deposited into BvaultsBank and sent to the associated BvaultsStrategy strategy, then to Alpaca Vault for yield. The Alpaca Vault minted 7,598,066.58 ibBUSD back to BvaultsStrategy.
The attacker then farmed with the received ibBUSD via the Alpaca FairLaunch. The attacker withdrew the BUSD from BvaultsBank, which was interpreted as withdrawing ibBUSD, equivalent to 8,016,006.09 BUSD. The attacker repeated these steps to accumulate credit and finally drained the pool.
The flash loan was returned with 7,806,580.38 BUSD.
The attacker's address:
The transaction behind the attack:
Protocol details
Evidence
Proof of concept
1 available- Code bEarn Logic Flaw
Sources
- report Post-Mortem bearndao.medium.com
- report Report peckshield.medium.com
- report Post-mortem rekt.news
- analysis Website reference bearn-defi.medium.com
- analysis DeFiLlama defillama.com
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