Incident Overview
Blizz Finance protocol suffered an exploit resulting in a loss of $8.3M due to a drop in the price of the LUNA token.
The exploit was triggered by a drop in the price of the LUNA token. The minimum price for LUNA on Chainlink was capped at $0.1, and when the price fell below this value, users exploited this opportunity and made exchanges to their advantage, draining the Blizz Finance protocol of $8.3M.
Victim contract: https://snowtrace.io/address/0x2c2e94ce…c2445e
Token address: https://bscscan.com/address/0x0f349194…764b24
Incident Report
Protocol Information
Market Context at Time of Hack
What the Attacker Needed to Succeed
Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.
What Auditors Should Check
If you're auditing a protocol with similar architecture to Blizz Finance, these are the critical security checks that could have prevented this incident (May 2022).
- Verify all logic paths related to Rugpull are guarded by proper access controls and input validation
- Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs
Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.
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