Jimbos Protocol Hack

TOTAL LOST $7.5M
Medium Flash Loan Attacks arbitrum

What happened

Quick Summary

Jimbos Protocol, a decentralized finance (DeFi) liquidity protocol on the Arbitrum system, was hacked on May 28, resulting in a loss of 4,000 Ether (ETH) worth approximately $7.5 million.

Details of the Exploit

The attack on Jimbos Protocol exploited the lack of slippage control on liquidity conversions, allowing the attacker to reverse swap orders and benefit from the price discrepancy. The protocol's mechanism, designed to address liquidity and volatile token prices, had a logical vulnerability that enabled the exploit. As a result, the price of the native token, Jimbo (JIMBO), dropped by 40%.

The attackers extracted 4,090 ETH from the Arbitrum network and used the Stargate bridge and the Celer Network to transfer around 4,048 ETH from the Ethereum network.

Block Data Reference

Exploit tx:

https://arbiscan.io/tx/0x44a0f565…7a5eda

Exploiter:

https://arbiscan.io/address/0x102be4bc…16a741

Bridged funds:

https://etherscan.io/address/0x5f3591e2…22ba7e

Case & protocol details

Classification Ecosystem / Other / Oracle Manipulation
Protocol Type Exploit/Other
Affected asset / contract JIMBO
Smart Contract Language Solidity
Official Website www.v2.jimbosprotocol.xyz/
Protocol Twitter/X @jimbosprotocol

Evidence & learning

Attack pattern

Compare incidents →
Flash Loan Attacks Oracle Manipulation & Price Manipulation

Proof of concept

1 available

Sources and on-chain records

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