Fortress Loans Hack
Reported loss
$3.0M
Governance and Oracle Exploit
What happened
Fortress Loans was exploited by combining a governance proposal with an oracle authorization flaw. The attacker enabled FTS as collateral, assigned it an inflated price through the oracle, and borrowed other assets against a small FTS deposit.
Technical root cause
Governance control enabled the collateral configuration, while missing oracle authorization checks allowed the attacker to set an artificial price. The lending markets then accepted the overstated collateral valuation.
How it happened
- The attacker acquired enough FTS to pass a proposal enabling it as collateral.
- They called the oracle's submit function, whose signature and power checks could be bypassed or were disabled.
- The resulting inflated FTS price let a small collateral deposit support large loans in other tokens.
- The borrowed assets were converted to ETH and DAI and moved through bridges to Ethereum.
Protocol details
Classification
Protocol Logic / Borrowing and Lending / Governance
Protocol Type
Lending
Affected asset / contract
FTS
Implementation language
Solidity
Protocol links
Website
@Fortressloans
Security review history
- Ether Authority No public report
- HashEx No public report
Evidence
Proof of concept
1 availableSources
- report Twitter/X Alert twitter.com
- report Post-mortem rekt.news
- analysis Website reference certik.com
- analysis DeFiLlama defillama.com
- analysis Fortress Loans Incident Analysis certik.com
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