Incident Overview
The attacker's address:
https://etherscan.io/address/0xb1af124c…cdb95e
The transaction behind the attack:
https://etherscan.io/tx/0xdbef3b39…42ce07
The exploited contract:
https://etherscan.io/address/0x7b3b69ea…cdc6ca
Wild Credit team left initialize() function in the LPTokenMaster contract public and reusable, so anyone can become the owner of the LP token contract. The hacker took ownership of the contract, has minted tokens to themselves, and then used those tokens to withdraw real funds.
The hacker was a whitehat and returned the funds to the contract deployer:
https://etherscan.io/tx/0xb4fffa0e…434542
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 Wild Credit, these are the critical security checks that could have prevented this incident (May 2021).
- Verify all logic paths related to Access Control are guarded by proper access controls and input validation - see the Access Control 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 TrialFunds Recovery
Recovered
$612K
Net Loss
0
Security Audit History
- Audit Report 1 Report
Related Attack Classes
The technique used in this hack maps to these vulnerability classes in our security curriculum:
Sources & References
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