Incident Overview
Mars is a multichain credit protocol enabling borrowing and lending primitives in the Cosmos. With Mars v2, the protocol introduced Rover credit accounts to Osmosis. Much like Binance subaccounts, credit accounts act as transferrable NFT containers where users can deposit assets, and use them as collateral for borrowing, spot or margin trading, leveraged yield farming, and hedging — all with a single liquidation point
Incident Report
Protocol Information
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 Mars Perps, these are the critical security checks that could have prevented this incident (December 2025).
- Verify all logic paths related to Thin-Market Skew Exploit are guarded by proper access controls and input validation
- 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.
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Learn to Prevent the Next Mars Perps
The Mars Perps 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.