Incident Overview
Smart Bank Token on the BSC chain was exploited via Flashloan attack with a loss of about 56KUSD.
Smart Bank Token was exploited. The attacker has used 1,950,000 USDT flashloan from PancakeV3Pool on the vulnerable Smart Bank Token contract, thus it created an opportunity to earn additional profit worth 56K USD.
Attacker:
https://bscscan.com/address/0x3026c464…76ce32
Attack tx:
https://bscscan.com/tx/0x9a8c4c4e…9be20d
Incident Report
Protocol Information
Market Context at Time of Hack
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 Smart Bank Token, these are the critical security checks that could have prevented this incident (July 2024).
- 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 Smart Bank Token
The Smart Bank Token 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.