Incident Overview
On April 28th, the 0VIX pool was exploited through a flash loan attack pattern resulting in losses worth approximately 2 million USD in USDC and USDT tokens.
Flash loan was taken from the aave and balancer pool.
All tokens were swapped to the USDC and 24,500,000 USDC was deposited to the 0VIX USD Coin pool. After that exploiter received 1,202,903,338 oUSDC which was used as collateral for taking vGHST.
vGHST balances were manipulated between ovGHST pool, oUSDC
and exploiter contacts 0x49c6dd83…af095c, 0x407feaec…7d7d57.
Exploiter profit:
1,453,546.066478($1,453,123.08) USD Coin
584,444.536038 ($584,444.54) Tether
Involved Gotchi Vault GHST (vGHST)
https://polygonscan.com/address/0x51195e21…aeca6c
Exploiter contracts:
https://polygonscan.com/address/0x49c6dd83…af095c#code
https://polygonscan.com/address/0x407feaec…7d7d57#code
Exploit TX:
https://polygonscan.com/tx/0x10f2c28f…5bb008
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 Ovix, these are the critical security checks that could have prevented this incident (April 2023).
- 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
Learn to Prevent the Next Ovix
The Ovix 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.