What happened
The protocol did not handle the rebase event correctly. It enabled a user to start Uniswap sell transaction immediately following the modification of wallet balances, but before any price change in the token was registered.
The rebase event functioned wrong. Because the YFI to SYFI conversion rate was incorrectly entered, an erroneous balance change was started. Together, these two errors permitted a transaction to be initiated that would basically remove the pool's aggregate cash.
The transaction, where the external address buys 2 SYFI using 0.5 ETH on the Uniswap:
15 minutes later, the same external address sells 15,551 SYFI for 747 ETH after the positive rebase event:
Protocol details
Evidence
- report Report forbes.com
- report Report cointelegraph.com
- analysis Web Archive web.archive.org
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