CheeseBank Hack

TOTAL LOST $3.3M
Medium Flashloan Price Oracle Attack ethereum

Summarize with AI

Affected Chain ethereum Incident surface
Recovered - No recovery reported
All-Time Rank #529 By amount stolen
Year 2020 Incident year

Incident Overview

Cheeseball (CB) is a cryptocurrency launched in 2024and operates on the Solana platform. Cheeseball has a current supply of 999,999,519 with 0 in circulation. The last known price of Cheeseball is 0.00003583 USD and is up 9.21 over the last 24 hours.

It is currently trading on 28 active market(s) with $0.00 traded over the last 24 hours. More information can be found at http://cheeseball.io/.

Incident Report

Protocol / Project CheeseBank
Date of Incident
Affected Chain(s) ethereum
Attack Technique Flashloan Price Oracle Attack
Classification Ecosystem
Primary Source View Post-Mortem

Protocol Information

Official Website cheeseball.io/
Protocol Twitter/X @Cheeseball_sol

Market Context at Time of Hack

Token Categories
Memes Solana Ecosystem Pump Fun Ecosystem

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.

Technical Knowledge Deep understanding of flashloan price oracle attack and Solidity and EVM internals
Capital Required Seed capital to cover gas and initial position setup
On-Chain Access Ability to interact with ethereum smart contracts and deploy a custom exploit contract
Protocol Analysis Identification of the exploitable vulnerability in CheeseBank's contract logic - root cause: ecosystem
Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block
Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Yes — skilled auditors routinely flag Flashloan Price Oracle Attack vulnerabilities in code review

If you're auditing a protocol with similar architecture to CheeseBank, these are the critical security checks that could have prevented this incident (November 2020).

  • Verify all logic paths related to Flashloan Price Oracle Attack are guarded by proper access controls and input validation - see the Flash Loans Attacks attack class for patterns
  • Audit oracle price feeds for manipulation risks - ensure time-weighted average prices (TWAPs) or multi-source aggregators are used, not spot prices
  • Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

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Related Attack Classes

The technique used in this hack maps to these vulnerability classes in our security curriculum:

See all Flash Loans Attacks examples →

Sources & References

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