Incident Overview
Floki Inu project was exploited via a flashloan attack, resulting in a loss of over 58,591 $USD.
FLOKI is an ERC-20 token trading on Uniswap. The attacker used flashloaned 6,694 $ETH from the Balancer and exploited the UniSwap pool, taking a profit of 31.7 $ETH.
The exploiter's profit reached 58,591 $USD at the moment of writing. Roughly 16.6 $WETH was transferred to the initial attacker's address and then to several EOA addresses. The rest 15.1 $WETH was transferred to another EOA.
Attacker address:
https://etherscan.io/address/0x662d2dc4…f0726b
Funds holder address:
https://etherscan.io/address/0x7ef60c3c…1c4e84
Malicious transaction:
https://etherscan.io/tx/0x118b7b7c…66437a
Malicious contract:
https://etherscan.io/address/0xecdb4d75…ae01b9
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 Floki Inu, these are the critical security checks that could have prevented this incident (May 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 Floki Inu
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