Started at 04:38:39 PM +UTC, May 1, 2021, the Spartan protocol contract was exploited to result in more than $30M loss. The incident was due to a flawed liquidity share calculation in the protocol, which is exploited to drain assets from the pool. In this blog post, we elaborate the technical details of the issue.

Summary

This incident was due to a flawed logic in calculating the liquidity share when the pool token is burned to withdraw the underlying assets. In particular, the specific hack inflates the asset balance of the pool before burning the same amount of pool tokens to…


Beijing, April 30th — PeckShield Inc. (PeckShield), the industry-leading blockchain security company, announced join forces with Binance Smart Chain (BSC) ecosystem to enhance security implementations in a rapidly expanding Decentralized Finance sector.

Data shows that both transaction volume and unique active wallets (UAWs) on BSC have risen substantially. Since 2021 most DeFi platforms fall into the category of decentralized applications (dApps) built on top of smart contract-enriched blockchains — primarily BSC.

The growth of the market reinforces the importance of on-chain and off-chain monitoring to ensure the safe and responsible adoption of dApps. …

PeckShield Inc.

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