Stader.Near Hack

A vulnerability made it possible for an attacker to mint $Nearx 20 million.

Stader labs provides staking services and risk adjusted returns to delegators. The protocols smart contracts were exploited by an attacker named gregoshes.near. The attacker managed to transfer $NearX to his wallet without providing $NEAR as collateral. The attacker then utilized the illegitimately minted $NearX to drain $Near/$NearX pools on Jumbo Exchange and Ref Finance. In order to address the attack and identify the vulnerability the smart contract was paused. The Stader team has initialized communication with the attacker in order regain the stolen funds, which the attacker did not answer to.

The team has also established a recovery plan which will make all impacted liquidity providers whole again.