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Blockchain security company Peckshield said a hacker exploited 30,437 OHM tokens (worth about $300,000) from Olympus DAO’s smart contract were sold today at Came back Funds to DAO in 2 transactions.
According to Peckshield, the hackers abused the contract’s “BondFixedExpiryTeller” and failed to properly validate the money transfer request. The company continued,related Olympus DAO”The BondFixedExpiryTeller contract contains a rede() function that does not properly validate its input, resulting in a loss of approximately $292,000. “
seems related @Olympus DAOThe BondFixedExpiryTeller contract has a rede() function that does not properly validate its inputs, resulting in losses of up to $292,000. https://t.co/dkhC5Ex9sz https://t.co/ikidpLyBga pic.twitter.com/wu5tUrepS6
PeckShield Inc. (@peckshield) October 21, 2022
The OlympusDAO team confirmed the exploit on their Discord channel, revealing that the attackers used the Bond Protocol to exfiltrate funds from OHM bond contracts. The protocol also states that the bug was not discovered by its auditors, and could have benefited even more had the attacker reported it via his Immunefi.
The team has over $200 million in bet It was safe on that platform.
CryptoSlate reached out to OlympusDAO and Bond Protocol for comment at the time of writing, but did not receive a response.
Meanwhile, the Olympus community hails the hacker as a white hat.
