How much was lost in the Tenderize V2 hack?

The Tenderize V2 hack resulted in $11K in losses on April 07, 2025.

What attack technique was used in the Tenderize V2 exploit?

The Tenderize V2 exploit utilized Proxy Upgrade Skim. 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.

Tenderize V2 Hack

TOTAL LOST $11K

Low Apr 07, 2025 Proxy Upgrade Skim ethereum

Affected Chain ethereum Incident surface

Recovered - No recovery reported

All-Time Rank #1937 By amount stolen

Auditors 1 Prior security audit

Incident Overview

Liquid Staking 2.0 - Stake to the validator of your choice and earn staking rewards. Use your validator specific LSTs in DeFi.

Incident Report

Protocol / Project Tenderize V2

Date of Incident April 07, 2025

Affected Chain(s) ethereum

Attack Technique Proxy Upgrade Skim

Classification Protocol Logic

Primary Source View Post-Mortem

Protocol Information

Protocol Type Liquid Staking

Smart Contract Language Solidity

Official Website tenderize.me

Protocol Twitter/X @tenderize_me

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 proxy upgrade skim and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

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

Protocol Analysis Identification of the exploitable vulnerability in Tenderize V2's contract logic - root cause: protocol logic

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? Likely — with a thorough Proxy Upgrade Skim audit checklist and test coverage

Audited by Audit Report 1 — still lost $11K. Prior audits don't guarantee safety, especially after post-audit code changes.

If you're auditing a protocol with similar architecture to Tenderize V2, these are the critical security checks that could have prevented this incident (April 2025).

Verify all logic paths related to Proxy Upgrade Skim are guarded by proper access controls and input validation
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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Security Audit History

Audit Report 1 Report

Sources & References

01
Source 1 https://x.com/dedaub/status/1914815361616367872

Threat Assessment

Severity Level

LOW

Attack Vector Proxy Upgrade Skim
Root Cause Protocol Logic
Year 2025

Learn to Prevent the Next Tenderize V2

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