Vow Hack

On August 13, 2024, Vow, a decentralized discount voucher issuer, suffered an exploit leading to a potential collapse of its native token VOW, with losses amounting to $1.2 million.

The vulnerability occurred during the testing of a rate setter function, which altered the amount of vUSD received per VOW token from 1 to 100. The testing period lasted only 15 to 30 seconds, but within that time, a bot managed to acquire 20 million VOW tokens valued at $6.6 million. The bot then swapped these tokens on Uniswap V2 for 452 ETH, equivalent to $1.23 million.

In response, Vow increased the token's burn rate to 50% to reduce the circulating supply back to normal levels.

Exploiter:

https://etherscan.io/address/0x48de6bf9…00c0c3

Example of exploit tx:

https://etherscan.io/tx/0x4b439b82…e5ca5f