Incident Overview
Goledo Finance suffers a $1.7 million loss in a flash loan attack on the Conflux blockchain.
On January 29th, 2024, Goledo, a cross-chain lending and borrowing protocol based on Aave, was attacked through a flash loan exploit on the Conflux blockchain. The team identified the issue as a flash loan attack, resulting in a loss of 7.9 million CFX (approximately $1.7 million USD). The attacker left an on-chain message on January 29th, stating, "I hacked Goledo and want to negotiate."
Attacker Address:
https://evm.confluxscan.net/address/0x0ad18233…30a305
On-chain Message from the Attacker:
https://evm.confluxscan.net/tx/0x9359dbee…6526d9
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 Goledo Finance, these are the critical security checks that could have prevented this incident (January 2024).
- 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
- 01
-
02
Web Archive https://archive.ph/AMuJW
Learn to Prevent the Next Goledo Finance
The Goledo 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.