Odaily Planet News: According to BlockSec Phalcon's monitoring, FutureSwap's contract on the Arbitrum chain has been attacked again, with an estimated loss of about $74,000. This attack exploited a reentrancy vulnerability. The attacker executed a two-step process: first, three days ago, they exploited the reentrancy vulnerability during a liquidity provision process to mint an excessive amount of LP tokens; then, after waiting for three days, they burned these illegally minted LP tokens to redeem the underlying collateral assets, stealing funds from the protocol and profiting.
FutureSwap's Arbitrum Contract Exploited in Reentrancy Attack, Losing $74,000
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Summary
FutureSwap's Arbitrum contract fell victim to a reentrancy attack, losing around $74,000. The exploit involved a reentrancy vulnerability that allowed the attacker to mint excessive LP tokens during a liquidity event three days prior. After a three-day lock, the attacker burned the tokens to reclaim collateral and drained funds from the protocol. The incident highlights ongoing smart contract vulnerabilities in DeFi platforms.
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