<h2 id="header-0">Background</h2>On June 10, 2024, the SlowMist MistEye security monitoring system detected a $19.3M attack on UwU Lend, a platform providing digital asset lending services on the EVM chain. Here’s what we found:<img src="https://miro.medium.com/v2/resize:fit:700/0*9Ec8_P6C3E8DD1iB" /><a href="https://x.com/SlowMist_Team/status/1800181916857155761" rel="noopener noreferrer nofollow">https://x.com/SlowMist_Team/status/1800181916857155761</a><h2 id="header-1">Relevant Information</h2>- Attacker Address:<ul><li>0x841ddf093f5188989fa1524e7b893de64b421f47</li></ul>- Vulnerable Contract Address:<ul><li>0x9bc6333081266e55d88942e277fc809b485698b9</li></ul>- Attack Transactions:<ul><li>0xca1bbf3b320662c89232006f1ec6624b56242850f07e0f1dadbe4f69ba0d6ac3</li><li>0xb3f067618ce54bc26a960b660cfc28f9ea0315e2e9a1a855ede1508eb4017376</li><li>0x242a0fb4fde9de0dc2fd42e8db743cbc197ffa2bf6a036ba0bba303df296408b</li></ul><h2 id="header-2">Cause of the Attack</h2>The core of this attack lies in the attacker’s ability to manipulate the price oracle by executing large exchanges in the CurveFinance pool. This manipulation affected the price of the sUSDE token, allowing the attacker to exploit the manipulated price to drain other assets from the pool.<h2 id="header-3">Attack Process</h2>1. Flash Loan and Price Suppression:- The attacker used a flash loan to borrow a large amount of assets, then exchanged a portion of the borrowed USDE tokens in a Curve pool to suppress the sUSDE price.<img src="https://miro.medium.com/v2/resize:fit:700/0*gGirm4qLfIydyEMx" />2. Creating Borrowing Positions:- With the sUSDE price significantly lowered, the attacker used other base tokens to borrow a large amount of sUSDE tokens.<img src="https://miro.medium.com/v2/resize:fit:700/0*m-fa8nJyh4EoTKzU" />3. Price Manipulation and Increase:- The attacker then executed reverse exchanges in the Curve pool to rapidly increase the sUSDE price.<img src="https://miro.medium.com/v2/resize:fit:700/0*k2dUi_hub8NfHkQO" />4. Liquidating Borrowing Positions:- With the sUSDE price inflated, the attacker liquidated previous borrowing positions to obtain uWETH.<img src="https://miro.medium.com/v2/resize:fit:700/0*9fk16OFZDqoes5QJ" />5. Borrowing More Base Tokens:- Finally, the attacker deposited the high-priced sUSDE again to borrow more base tokens for profit.<img src="https://miro.medium.com/v2/resize:fit:700/0*J2VV7rn1TjFEbWVB" />It is evident that the attacker primarily manipulated the sUSDE price repeatedly to profit by borrowing heavily when the price was low and liquidating and re-collateralizing when the price was high. We examined the oracle contract sUSDePriceProviderBUniCatch responsible for calculating the sUSDE price:<img src="https://miro.medium.com/v2/resize:fit:700/0*_ltH9Pq_c8u7FExQ" />The sUSDE price is derived by fetching 11 different prices of the USDE token from CurveFinance and UNI V3 pools, then sorting these prices and determining the median.In this calculation logic, 5 of the USDE prices are directly obtained using the get_p function to fetch the immediate spot price from the Curve pool. This design flaw allowed the attacker to influence the median price calculation by executing large exchanges in a single transaction.<img src="https://miro.medium.com/v2/resize:fit:700/0*4v1G5jAP27idGmk_" />MistTrack AnalysisAccording to the MistTrack analysis, the attacker 0x841ddf093f5188989fa1524e7b893de64b421f47 profited approximately $19.3 million from the attack, including ETH, crvUSD, bLUSD, and USDC, all of which were converted to ETH.<img src="https://miro.medium.com/v2/resize:fit:700/0*GfatV95OlklnRvYa" />- The attacker’s initial funds of 0.98 ETH originated from Tornado Cash, followed by five more transfers from Tornado Cash.<img src="https://miro.medium.com/v2/resize:fit:700/0*70Mbo74o_2Irt_4D" />- The attacker transferred 1,292.98 ETH to the address 0x48d7c1dd4214b41eda3301bca434348f8d1c5eb6, leaving a balance of 1,282.98 ETH.- Another 4,000 ETH was transferred to the address 0x050c7e9c62bf991841827f37745ddadb563feb70, with a current balance of 4,010 ETH.<img src="https://miro.medium.com/v2/resize:fit:700/0*wG48zzri5PvKVBoK" />MistTrack has blacklisted the relevant addresses and will continue to monitor the movement of the stolen funds.<h2 id="header-4">Conclusion</h2>The attack exploited a vulnerability in the price oracle, where the direct use of real-time spot prices and median price calculations allowed the attacker to manipulate the sUSDE price. The SlowMist security team recommends enhancing the anti-manipulation capabilities of price oracles and designing more secure oracle feeding mechanisms to prevent similar incidents in the future.About SlowMistAt SlowMist, we pride ourselves on being a frontrunner in blockchain security, dedicating years to mastering threat intelligence. Our expertise is grounded in providing comprehensive security audits and advanced anti-money laundering tracking to a diverse clientele. We’ve established a robust network for threat intelligence collaboration, positioning ourselves as a key player in the global blockchain security landscape. We offer tailor-made security solutions that span from identifying threats to implementing effective defense mechanisms. This holistic approach has garnered the trust of numerous leading and recognized projects worldwide, including names like Huobi, OKX, Binance, imToken, Crypto.com, Amber Group, Klaytn, EOS, 1inch, PancakeSwap, TUSD, Alpaca Finance, MultiChain, and Cheers UP. Our mission is to ensure the blockchain ecosystem is not only innovative but also secure and reliable.We offers a variety of services that include but are not limited to security audits, threat intelligence, defense deployment, security consultants, and other security-related services. We also offer AML (Anti-money laundering) solutions, Vulpush (Vulnerability monitoring) , SlowMist Hacked (Crypto hack archives), FireWall.x (Smart contract firewall) , Safe Staking and other SaaS products. We have partnerships with domestic and international firms such as Akamai, BitDefender, FireEye, RC², TianJi Partners, IPIP, etc.By delivering a comprehensive security solution customized to individual projects, we can identify risks and prevent them from occurring. Our team was able to find and publish several high-risk blockchain security flaws. By doing so, we wish to help spread awareness and raise the security standards in the blockchain ecosystem.&#x1f4ac;<a href="https://www.slowmist.com/" rel="noopener noreferrer nofollow">Website</a> &#x1f426;<a href="https://twitter.com/SlowMist_Team" rel="noopener noreferrer nofollow">Twitter </a>⌨️<a href="https://github.com/slowmist/" rel="noopener noreferrer nofollow">GitHub</a>

Analysis of the UwU Lend Hack

목차

SlowMist

2024년 7월 4일에 게재된 다른 기사

Investing in These Five Cryptocurrencies Can Change Your Life For Good

Venom Expands into India with Dual Listings on WazirX and CoinDCX

Bitcoin Analysis: Experts Suggest Bottoming Signals Amid Market Volatility

Bybit Powered by SATOS Soft Launches Netherlands Office in Amsterdam, Grand Opening Ceremony Set ...

Qubetics Whitelist Takes the Cake with Massive Sign-Ups as Near Protocol and EOS Face Investor Cr...

Wemade to Unveil New Business Strategy on WEMIX DAY, Shaping the Future of Blockchain Gaming

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!