Share this article
BTC
$84,477.69
-
0.48%ETH
$1,614.00
-
1.92%USDT
$0.9999
+
0.00%XRP
$2.1199
-
1.63%BNB
$583.15
-
0.42%SOL
$128.14
-
1.50%USDC
$0.9999
+
0.00%TRX
$0.2481
-
1.85%DOGE
$0.1552
-
3.72%ADA
$0.6187
-
3.30%LEO
$9.3644
-
0.29%LINK
$12.31
-
4.93%AVAX
$19.38
-
4.59%XLM
$0.2377
-
1.21%TON
$2.9411
+
3.31%SHIB
$0.0₄1185
-
2.81%SUI
$2.1265
-
4.42%HBAR
$0.1599
-
3.60%BCH
$322.67
-
1.54%LTC
$75.09
-
2.53%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
DeFi Project Akropolis Drained of $2M in DAI
Decentralized finance platform Akropolis’ yCurve pools have been drained resulting in the loss of $2 million.
Decentralized finance (DeFi) platform Akropolis has suffered a $2 million loss following a re-entrancy attack utilizing a flash loan from derivatives platform dYdX, according to Akropolis founder and CEO Ana Andrianova.
STORY CONTINUES BELOW
- The attacker pulled out tranches of $50,000 in DAI from the project’s yCurve and sUSD pools, according to The Block researcher Steven Zheng and Andrianova. The attacker collected $2 million worth of the stablecoin before exhausting the pools.
- A re-entrancy attack allows a user to withdraw more funds from a contract than the contract holds. Ethereum's 2016 The DAO hack was also a re-entrancy attack.
- Akropolis’ Delphi savings pool was audited twice, the team said in the Discord, once by CertiK and also by firms SmartDec and Pessimistic.
- Andrianova told CoinDesk an autopsy of the attack will be released Friday.
Not quite, we will publish a detailed retro shortly. Two attack vectors have unfortunately been missed despite two audits. I will link a post-mortem and next steps here.
— Ana A. (@ana_andrianova) November 12, 2020
Update (November 12, 22:00 UTC): New communications from Akropolis including the type of attack have been added.
William Foxley
Will Foxley is the host of The Mining Pod and publisher at Blockspace Media. A former co-host of CoinDesk's The Hash, Will was the director of content at Compass Mining and a tech reporter at CoinDesk.
