Incident Overview
Conic Finance is an easy-to-use platform built for liquidity providers to easily diversify their exposure to multiple Curve pools. Any user can provide liquidity into a Conic Omnipool which allocates funds across Curve in proportion to protocol controlled pool weights.
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 Conic Finance, these are the critical security checks that could have prevented this incident (July 2023).
- 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
Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.
Free TrialSecurity Audit History
- Audit Report 1 Report
Related Attack Classes
The technique used in this hack maps to these vulnerability classes in our security curriculum:
Sources & References
Learn to Prevent the Next Conic Finance
The Conic Finance hack is one of many attacks that skilled auditors are trained to detect before deployment. Master real exploit patterns and defense techniques with hands-on Web3 security training.