PYTHIA FINANCE

DESCRIPTION OF EVENTS

"Pythia Finance is a cutting-edge decentralized autonomous organization (DAO) that’s revolutionizing stablecoins in DeFi. Unlike traditional stablecoins, Pythia’s approach is purely algorithmic—no fiat backing needed."

"Pythia’s roadmap is packed with exciting developments—protocol enhancements, ecosystem expansion, and ongoing community engagement."

"Pythia Finance is serious about security. With rigorous code reviews, continuous monitoring, and regular third-party audits, your assets are in safe hands."

"The attacker called the “claim rewards” function repeatedly, without allowing the reward balance to be updated after each call, allowing them to collect more rewards than they were entitled to.

According to the report, the attacker was able to call this function repeatedly and in rapid succession because Pythia called the token’s “safe transfer” function when rewards were distributed. Thus, a malicious token contract could call back Pythia, causing Pythia to call it back again, and resulting in a chain reaction that could drain the protocol’s funds."

"The decentralized algorithmic stablecoin protocol Pythia was attacked due to a vulnerability in its staking contract, resulting in a loss of 21 ETH (approximately $53,000)."

Original tweet 9929: "Pythia Finance had an unfortunate event of exploit"

Subsequent tweet 7709: "We have burned 29369 $Pythia Tokens that were retrieved after the exploit from Escrow contract. https://t.co/uq5RBUkVOa"

"Twitter account deleted and 60K stolen to investors 1h ago with a rugpull. Keep faith folks"

Pythia Finance described itself as a cutting edge DAO producing a pure algorithmic stablecoin without the need for any fiat backing. They promised they were serious about security and had a rigorous code review just moments before their staking contract was exploited. It appears that their attempt to burn tokens did nothing to improve their predicament, and their talks with Quill Audits to get an audit performed broke down. In the end, their ultimate public relations decision was to delete the Twitter and website both.

SlowMist Hacked - SlowMist Zone (Sep 30)
@pythiafinance Twitter (Sep 30)
@pythiafinance Twitter (Sep 30)
PYTHIA (Sep 30)
https://cointelegraph.com/magazine/pythia-finance-drained-53k-crypto-sec/ (Sep 30)
@quillaudits_ai Twitter (Sep 30)
@pythiafinance Twitter (Sep 30)
@DexSignal Twitter (Sep 30)
@decryps01 Twitter (Sep 30)
@0xdefioor Twitter (Sep 30)
@freeWheel_ Twitter (Sep 30)
@zlmy888888 Twitter (Sep 30)
@PinkPunkBotCN Twitter (Sep 30)
@AkaiDegen Twitter (Sep 30)
@UniGemAI Twitter (Sep 30)
@0xdefioor Twitter (Sep 30)
@0xdefioor Twitter (Sep 30)
Ethereum Transaction Hash (Txhash) Details | Etherscan  (Sep 30)
Contract Address 0x542533536e314180e1b9f00b2c046f6282eb3647 | Etherscan  (Sep 30)
The Pythia Hack: A Lesson in DeFi Security - OneSafe Blog (Sep 30)

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