Nimbus Platform Flash Loan Attack
On December 14, 2022, NimbusPlatform was exploited using flash loan attack
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On November 15, 2022, the Sheep Farm project was attacked by a hacker resulting in the…
On November 15, 2022, the Sheep Farm project was attacked by a hacker resulting in the loss of approximately 262 $BNB tokens worth $72,000.
Sheep Farm is an investment blockchain game on the BNB chain.
The root cause of the attack is a vulnerability in one of the SheepFarm contract's functions, which could be called multiple times to increase the gems yield.
This function validates a user's timestamp to verify if they are a new user.
It doesn't however update the timestamp after the user registration is completed.
Following the incident, the team put their platform into maintenance mode.
This exploit could have been prevented if proper validation techniques had been used to ensure that all potential attack surfaces had been completely fixed. It is essential that the project team conduct rigorous audit procedures with multiple blockchain security firms to prevent such occurrences.
Our security team at Neptune Mutual can validate your platform for DNS and web-based security, smart contract reviews, as well as frontend and backend security. We can offer you a solution to scan your platform and safeguard your protocol for known and unknown vulnerabilities that have the potential to have catastrophic long-term effects. Contact us on social media if you are serious about security and have the budget, desire, and feeling of responsibility to do so.
Neptune Mutual project safeguards the Ethereum community from cyber threats. The protocol uses parametric cover as opposed to discretionary insurance. It has an easy and reliable on-chain claim process. This means that when incidents are confirmed by our community, resolution is fast.
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