GDS Chain Hack

Reported loss $187K
BNB Chain
Flash Loan Attack

What happened

On January 3, 2023, a flash-loan attack compromised GDS Chain's BSC lending pool, causing a reported $187,000 loss and an 84% GDS price decline. The attacker used flash-borrowed USDT to acquire GDS and LP tokens, then repeatedly harvested LP rewards before repaying the loan.

How it happened

  1. The attacker flash-borrowed 2.38 million USDT.
  2. The borrowed funds were used to acquire GDS and a large LP-token position.
  3. The attacker repeatedly transferred LP tokens to collect rewards 70 times.
  4. The flash loan was repaid after rewards were extracted.

Protocol details

Classification Token / Protocol Logic
Protocol Type Exploit/Flash Loan Attack
Affected asset / contract GDS
Implementation language Solidity
Protocol links @GDS_chain

Evidence

Understand the attack patterns

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