Incident Overview
ROE Finance was exploited on 11th, January 2023. The exploiter's profit is about $80k USD.
RoeFinance, a decentralized finance (DeFi) protocol, recently suffered an attack resulting in the drain of its victim pool (0x574f) and a total loss of approximately $80K. This type of attack, known as price manipulation, was made possible by the limited liquidity of the pool, which led to the manipulation of the price oracle.
The attack involved the use of two addresses (0x67a9 and 0x3afb) and was carried out in 10 steps, resulting in a total profit of approximately $80K, or the equivalent of 2.29 WBTC and 39,982 USDC.
It's important to note that the original attack transaction can be found at https://etherscan.io/address/0x15d87dc2…04344d, which was front-run by a mev bot.
Exploit TX:
https://etherscan.io/tx/0x927b7841…98985b
Vulnerable pool:
https://etherscan.io/address/0x574FF391…e398d0
Attacker: 0x67a909f2…2d0795
Attacker2: 0xE2Ba15be…48FB8B
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 Roe Finance, these are the critical security checks that could have prevented this incident (January 2023).
- Verify all logic paths related to Flashloan Pool Shares Exploit / Oracle Issue are guarded by proper access controls and input validation - see the Flash Loans Attacks attack class for patterns
- Audit oracle price feeds for manipulation risks - ensure time-weighted average prices (TWAPs) or multi-source aggregators are used, not spot prices
- Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs
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Free TrialSecurity Audit History
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Related Attack Classes
The technique used in this hack maps to these vulnerability classes in our security curriculum:
Sources & References
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