Incident Overview
Cellframe Network ($CELL) experienced a flash loan exploit on the Binance Smart Chain, resulting in a loss of 76,112 $USD.
CELL is a community BEP20 token of the Cellframe Network, trading on PancakeSwap. On June 1st, 2023, Cellframe Network was exploited via a flash loan attack that caused the price to drop -45%. The attacker successfully obtained a profit of 245.52 $BNB and approximately $76,112 USD. The exploit occurred due to an unverified source code deployed by the attacker in a single transaction.
The exploiter took out a flashloan from the DPP project and drained funds from PancakeV3Pool. All stolen assets were transferred to another EOA address where they currently remain.
The source of the problem is a smart contract that migrated old liquidity to new without taking into account changing spread between them during migration.
Attacker Address:
https://bscscan.com/address/0x2525c811…da6079
Funds Holder Address:
https://bscscan.com/address/0x8882b31f…af9e70
Malicious Transaction:
https://bscscan.com/tx/0x943c2a5f…ae09a6
Malicious Contract:
https://bscscan.com/address/0x1e2a251b…ce7c48
Incident Report
Protocol Information
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 Cellframe Network, these are the critical security checks that could have prevented this incident (June 2023).
- Verify all logic paths related to Flash Loan Attack are guarded by proper access controls and input validation - see the Flash Loans Attacks attack class for patterns
- 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.
Free TrialRelated Attack Classes
The technique used in this hack maps to these vulnerability classes in our security curriculum:
Sources & References
Learn to Prevent the Next Cellframe Network
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