According to ME News, on October 6 (UTC+8), ExVul monitoring revealed that the legacy Set Protocol product ETHMACOAPY on Ethereum lost approximately 8.11 WETH across two transactions from different addresses. The root cause was that the actualizeFee() function rounded up the redemption of collateral even when no fee was due. The attacker first deposited collateral into the contract and triggered a recalculation, then redeemed the temporary tokens to withdraw more collateral than initially deposited, thereby depleting the reserves of other holders. The second transaction, occurring two blocks later, transferred approximately 4.062 WETH, nearly exhausting the Set’s recorded reserves. (Source: Foresight News)
Old Set Protocol Product ETHMACOAPY Loses 8.11 WETH in Attack
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Summary
Ethereum news: On October 6 (UTC+8), the legacy Set Protocol product ETHMACOAPY lost approximately 8.11 WETH across two separate attacks. The exploit targeted the actualizeFee() function, which incorrectly rounded up redemption collateral. Attackers deposited funds, triggered a recalculation, and redeemed more than they had deposited. A second withdrawal of 4.062 WETH nearly depleted the Set’s reserves. A protocol update is expected to fix the vulnerability.
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