How much was lost in the Peapods Finance hack?

The Peapods Finance hack resulted in $231K in losses on December 13, 2023.

What attack technique was used in the Peapods Finance exploit?

The Peapods Finance exploit utilized Reentrancy. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

Peapods Finance Hack

TOTAL LOST $231K

Low Dec 13, 2023 Reentrancy

Affected Chain 2023 Incident surface

Recovered $231K 100.0% returned

All-Time Rank #1244 By amount stolen

Auditors 1 Prior security audit

Incident Overview

Quick Summary

Peapods yield protocol on Ethereum chain exploited via reentrancy attack, resulting in a temporary loss of 231,192 USD worth of PEAS tokens.

Details of the Exploit

Peapods is a yield protocol running on the Ethereum chain. On December 13, 2023, the project was exploited through a reentrancy attack. The attacker, a white hat hacker with the axxe.eth ENS name, was able to gain PEAS tokens worth 231,192 USD (104.47 ETH).

The hacker returned 90% of the stolen funds initially, and later returned the remaining 10%. The white hat hacker confirmed the exploit on their Twitter account.

Block Data Reference

Attacker Addresses:

https://etherscan.io/address/0x2BA9dE5e…0D0000

https://etherscan.io/address/0x838D23a8…C67510

Malicious Transaction:

https://etherscan.io/tx/0x98d82370…c754fb

Malicious Contract:

https://etherscan.io/address/0x928B2DAe…03e20a

Funds Recovering Transactions:

https://etherscan.io/tx/0x762c510b…b48bd0

https://etherscan.io/tx/0x52072831…2c29f4

This is classified as a Reentrancy . Compare similar hacks →

Incident Report

Protocol / Project Peapods Finance

Date of Incident December 13, 2023

Attack Technique Reentrancy

Classification Yield Aggregator

Primary Source View Post-Mortem

Protocol Information

Protocol Type Yield

Affected Token PEAS

Official Website peapods.finance/

Protocol Twitter/X @PeapodsFinance

Team Anonymous

Source Code Verified On-Chain

Market Context at Time of Hack

Token Categories

Ethereum Ecosystem Arbitrum Ecosystem Base Ecosystem Mode Ecosystem Sonic Ecosystem Bera Chain Ecosystem

Protocol Links

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.

Technical Knowledge Deep understanding of reentrancy and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in Peapods Finance's contract logic - root cause: yield aggregator

Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block

Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Yes — skilled auditors routinely flag Reentrancy vulnerabilities in code review

Audited by Audit Report 1 — still lost $231K. Prior audits don't guarantee safety, especially after post-audit code changes.

If you're auditing a protocol with similar architecture to Peapods Finance, these are the critical security checks that could have prevented this incident (December 2023).

Verify all logic paths related to Reentrancy are guarded by proper access controls and input validation - see the Reentrancy attack class for patterns
Check that all state-changing functions follow the Checks-Effects-Interactions (CEI) pattern to prevent reentrancy and logic ordering bugs
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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Funds Recovery

100.0%

Recovered

$231K

Net Loss

Security Audit History

Audit Report 1 Report

Related Attack Classes

The technique used in this hack maps to these vulnerability classes in our security curriculum:

See all Reentrancy examples →

Reentrancy

Sources & References

01
Source 1 https://twitter.com/PeapodsFinance/status/1735022836945756217?s=20
02
Web Archive https://archive.ph/jby2t

Threat Assessment

Severity Level

LOW

Attack Vector Reentrancy
Root Cause Yield Aggregator
Year 2023

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