Bancor Self-Hack - Revision history

Azoundria at 19:34, 1 May 2023

2023-05-01T19:34:58Z

← Older revision		Revision as of 13:34, 1 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bancorself-hack.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/bancorself-hack.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	[[File:Bancor.jpg\|thumb\|Bancor]]An exploit existed in the Bancor smart contract caused by a missing authentication of the "from" address in a "safe" transfer function. The exploit was exposed in March of 2020. Finally, in June 2020, a white hat hacker exploited it, prompting Bancor to exploit the remaining funds themselves.		[[File:Bancor.jpg\|thumb\|Bancor]]An exploit existed in the Bancor smart contract caused by a missing authentication of the "from" address in a "safe" transfer function. The exploit was exposed in March of 2020. Finally, in June 2020, a white hat hacker exploited it, prompting Bancor to exploit the remaining funds themselves.
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	The white hat returned the funds, and Bancor disbursed all funds back to affected users.		The white hat returned the funds, and Bancor disbursed all funds back to affected users.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="cryptobriefing-825" /><ref name="cryptobriefing-1013" /><ref name="1inchnetworkmedium-1014" /><ref name="davidgerard-1015" /><ref name="cryptonews-1016" /><ref name="davidgerardtwitter-1017" /><ref name="defiprimetwitter-1018" /><ref name="theblockcrypto-1019" /><ref name="zengomedium-1020" /><ref name="personalfinancial-1021" /><ref name="blockcast-1151" /><ref name="ciphertrace-1152" /><ref name="slowmisthacked-678" /><ref name="openzeppelinforum-1155" /><ref name="amanusktwitter-8755" /><ref name="zengo-8756" /><ref name="amanusktwitter-8757" /><ref name="odedleibatwitter-8758" /><ref name="defiprimetwitter-8759" /><ref name="hexcapitaltwitter-8760" /><ref name="etherscan-8761" /><ref name="zengomedium-8762" />
	<ref name="cryptobriefing-825" /><ref name="cryptobriefing-1013" /><ref name="1inchnetworkmedium-1014" /><ref name="davidgerard-1015" /><ref name="cryptonews-1016" /><ref name="davidgerardtwitter-1017" /><ref name="defiprimetwitter-1018" /><ref name="theblockcrypto-1019" /><ref name="zengomedium-1020" /><ref name="personalfinancial-1021" /><ref name="blockcast-1151" /><ref name="ciphertrace-1152" /><ref name="slowmisthacked-678" /><ref name="openzeppelinforum-1155" /><ref name="amanusktwitter-8755" /><ref name="zengo-8756" /><ref name="amanusktwitter-8757" /><ref name="odedleibatwitter-8758" /><ref name="defiprimetwitter-8759" /><ref name="hexcapitaltwitter-8760" /><ref name="etherscan-8761" /><ref name="zengomedium-8762" />

	== About Bancor ==		== About Bancor ==
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	!Description		!Description
	\|-		\|-
	\|June 28th, 2020 ~~12:00:00 AM~~		\|June 28th, 2020
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
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	\|		\|
	\|}		\|}

			== Technical Details ==
			This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

	== Total Amount Lost ==		== Total Amount Lost ==
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	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== General Prevention Policies ==
	== Prevention Policies ==
	Users should not be granting unlimited approvals to any smart contract, or should use a separate wallet for each smart contract with only those funds they are actively using.		Users should not be granting unlimited approvals to any smart contract, or should use a separate wallet for each smart contract with only those funds they are actively using.

	Smart contracts should have 2 security audits from independent services, and a third after 6 months of operation. An industry insurance fund should be established to assist users and compensate losses in the event of failure. During the early development stages, until the market is willing to underwrite the entire balance, the vast majority of funds should be stored offline in a multi-signature treasury wallet.		Smart contracts should have 2 security audits from independent services, and a third after 6 months of operation. An industry insurance fund should be established to assist users and compensate losses in the event of failure. During the early development stages, until the market is willing to underwrite the entire balance, the vast majority of funds should be stored offline in a multi-signature treasury wallet.
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

			== Platform Prevention Policies ==
			{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

			== Regulatory Prevention Policies ==
			{{Prevention:Regulators:Placeholder}}

			{{Prevention:Regulators:End}}

	== References ==		== References ==
	<references><ref name="cryptobriefing-825">[https://cryptobriefing.com/50-million-lost-the-top-19-defi-cryptocurrency-hacks-2020/ Millions Lost: The Top 19 DeFi Cryptocurrency Hacks of 2020 \| Crypto Briefing] (May 21, 2021)</ref>		<references><ref name="cryptobriefing-825">[https://cryptobriefing.com/50-million-lost-the-top-19-defi-cryptocurrency-hacks-2020/ Millions Lost: The Top 19 DeFi Cryptocurrency Hacks of 2020 \| Crypto Briefing] (May 22, 2021)</ref>

	<ref name="cryptobriefing-1013">[https://cryptobriefing.com/what-is-bancor-network-token-introduction-to-bnt-token/ What Is Bancor Network Token? Introduction to BNT Token \| Crypto Briefing] (May 22, 2021)</ref>		<ref name="cryptobriefing-1013">[https://cryptobriefing.com/what-is-bancor-network-token-introduction-to-bnt-token/ What Is Bancor Network Token? Introduction to BNT Token \| Crypto Briefing] (May 23, 2021)</ref>

	<ref name="1inchnetworkmedium-1014">[https://medium.com/1inch-network/bancor-network-hack-2020-3c71444fd59d Bancor Network Hack 2020] (May 26, 2021)</ref>		<ref name="1inchnetworkmedium-1014">[https://medium.com/1inch-network/bancor-network-hack-2020-3c71444fd59d Bancor Network Hack 2020] (May 27, 2021)</ref>

	<ref name="davidgerard-1015">[https://davidgerard.co.uk/blockchain/2020/06/18/bancor-releases-smart-contract-security-hole-hacks-self-only-loses-a-few-hundred-thousand-dollars-of-user-funds/ Bancor releases smart contract security hole, hacks self, only loses a few hundred thousand dollars of user funds – Attack of the 50 Foot Blockchain] (May 26, 2021)</ref>		<ref name="davidgerard-1015">[https://davidgerard.co.uk/blockchain/2020/06/18/bancor-releases-smart-contract-security-hole-hacks-self-only-loses-a-few-hundred-thousand-dollars-of-user-funds/ Bancor releases smart contract security hole, hacks self, only loses a few hundred thousand dollars of user funds – Attack of the 50 Foot Blockchain] (May 27, 2021)</ref>

	<ref name="cryptonews-1016">[https://cryptonews.com/news/bancor-discovers-security-vulnerability-drains-usd-460-000-o-6878.htm Bancor Discovers Security Vulnerability, Drains USD 460,000 Of User Funds (UPDATED)] (May 27, 2021)</ref>		<ref name="cryptonews-1016">[https://cryptonews.com/news/bancor-discovers-security-vulnerability-drains-usd-460-000-o-6878.htm Bancor Discovers Security Vulnerability, Drains USD 460,000 Of User Funds (UPDATED)] (May 28, 2021)</ref>

	<ref name="davidgerardtwitter-1017">[https://twitter.com/davidgerard/status/1273663321313509376 @davidgerard Twitter] (May 27, 2021)</ref>		<ref name="davidgerardtwitter-1017">[https://twitter.com/davidgerard/status/1273663321313509376 @davidgerard Twitter] (May 28, 2021)</ref>

	<ref name="defiprimetwitter-1018">[https://twitter.com/defiprime/status/1273473231739994113 @defiprime Twitter] (May 29, 2021)</ref>		<ref name="defiprimetwitter-1018">[https://twitter.com/defiprime/status/1273473231739994113 @defiprime Twitter] (May 30, 2021)</ref>

	<ref name="theblockcrypto-1019">[https://www.theblockcrypto.com/post/68791/dex-protocol-bancor-suffered-security-vulnerability-migrated-455k-worth-of-user-funds DEX protocol Bancor suffered security vulnerability, migrated $455K worth of user funds] (May 30, 2021)</ref>		<ref name="theblockcrypto-1019">[https://www.theblockcrypto.com/post/68791/dex-protocol-bancor-suffered-security-vulnerability-migrated-455k-worth-of-user-funds DEX protocol Bancor suffered security vulnerability, migrated $455K worth of user funds] (May 31, 2021)</ref>

	<ref name="zengomedium-1020">[https://medium.com/zengo/bancor-smart-contracts-vulnerability-and-its-lessons-ce762d09bb9a Bancor Smart Contracts Vulnerability And Its Lessons] (May 30, 2021)</ref>		<ref name="zengomedium-1020">[https://medium.com/zengo/bancor-smart-contracts-vulnerability-and-its-lessons-ce762d09bb9a Bancor Smart Contracts Vulnerability And Its Lessons] (May 31, 2021)</ref>

	<ref name="personalfinancial-1021">[https://personal-financial.com/2020/06/23/victim-of-critical-vulnerability-bancor-decides-to-self-hack-cryptocurrencies/ Victim of Critical Vulnerability, Bancor decides to "self-hack" - Cryptocurrencies - Personal Financial] (May 30, 2021)</ref>		<ref name="personalfinancial-1021">[https://personal-financial.com/2020/06/23/victim-of-critical-vulnerability-bancor-decides-to-self-hack-cryptocurrencies/ Victim of Critical Vulnerability, Bancor decides to "self-hack" - Cryptocurrencies - Personal Financial] (May 31, 2021)</ref>

	<ref name="blockcast-1151">[https://blockcast.cc/news/what-are-the-possible-security-risks-of-unlimited-token-authorization/ What are the possible security risks of unlimited token authorization? • Blockcast.cc- News on Blockchain, DLT, Cryptocurrency] (Jun 19, 2021)</ref>		<ref name="blockcast-1151">[https://blockcast.cc/news/what-are-the-possible-security-risks-of-unlimited-token-authorization/ What are the possible security risks of unlimited token authorization? • Blockcast.cc- News on Blockchain, DLT, Cryptocurrency] (Jun 20, 2021)</ref>

	<ref name="ciphertrace-1152">[https://ciphertrace.com/wp-content/uploads/2021/01/CipherTrace-Cryptocurrency-Crime-and-Anti-Money-Laundering-Report-012821.pdf CipherTrace Cryptocurrency Crime and Anti-Money Laundering Report 2020] (Jun 19, 2021)</ref>		<ref name="ciphertrace-1152">[https://ciphertrace.com/wp-content/uploads/2021/01/CipherTrace-Cryptocurrency-Crime-and-Anti-Money-Laundering-Report-012821.pdf CipherTrace Cryptocurrency Crime and Anti-Money Laundering Report 2020] (Jun 20, 2021)</ref>

	<ref name="slowmisthacked-678">[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 17, 2021)</ref>		<ref name="slowmisthacked-678">[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 18, 2021)</ref>

	<ref name="openzeppelinforum-1155">[https://forum.openzeppelin.com/t/list-of-ethereum-smart-contracts-post-mortems/1191 List of Ethereum Smart Contracts Post-Mortems - Security - OpenZeppelin Community] (Jun 22, 2021)</ref>		<ref name="openzeppelinforum-1155">[https://forum.openzeppelin.com/t/list-of-ethereum-smart-contracts-post-mortems/1191 List of Ethereum Smart Contracts Post-Mortems - Security - OpenZeppelin Community] (Jun 23, 2021)</ref>

	<ref name="amanusktwitter-8755">[https://twitter.com/amanusk_/status/1273538338633457667 @amanusk_ Twitter] (Jul 24, 2022)</ref>		<ref name="amanusktwitter-8755">[https://twitter.com/amanusk_/status/1273538338633457667 @amanusk_ Twitter] (Jul 24, 2022)</ref>

Azoundria at 17:18, 17 February 2023

2023-02-17T17:18:46Z

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bancorself-hack.php}} BancorAn exploit existed in the Bancor smart contract caused by a missing authentication of the "from" address in a "safe" transfer function. The exploit was exposed in March of 2020. Finally, in June 2020, a white hat hacker exploited it, prompting Bancor to exploit the remaining funds themselves. The white hat returned the funds, and Bancor disbur..."

2023-01-25T17:32:12Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bancorself-hack.php}} thumb|BancorAn exploit existed in the Bancor smart contract caused by a missing authentication of the "from" address in a "safe" transfer function. The exploit was exposed in March of 2020. Finally, in June 2020, a white hat hacker exploited it, prompting Bancor to exploit the remaining funds themselves. The white hat returned the funds, and Bancor disbur..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/bancorself-hack.php}}

[[File:Bancor.jpg|thumb|Bancor]]An exploit existed in the Bancor smart contract caused by a missing authentication of the "from" address in a "safe" transfer function. The exploit was exposed in March of 2020. Finally, in June 2020, a white hat hacker exploited it, prompting Bancor to exploit the remaining funds themselves.

The white hat returned the funds, and Bancor disbursed all funds back to affected users.

This is a global/international case not involving a specific country.

== About Bancor ==
"The Bancor Network is a cross-chain cryptocurrency conversion platform that lets you convert between Ethereum and EOS tokens (others are in the works) without the need of a middleman or other third party. Bancor Network Token (BNT) is the intermediary token used by Bancor to initiate exchanges. It’s both an ERC-20 token and EOS token."

"Bancor, an app focused on asset swaps and conducted one of the largest ICOs of 2017, self-hacked to fix a critical vulnerability." "[W]arnings about the new exploit had been floating around since Mar. 2020." "Bancor's Telegram group calls users to check their approvals for the flawed contracts and decline them."

"A contract does not need to be malicious to steal all your funds. It can be just be buggy. In this case, there as no authentication of the `from` address."

"According to the Bancor Network, the vulnerability was discovered last night at midnight, 00:00 UTC, in a new version of the BancorNetwork v0.6 contract, which was deployed just two days ago, on June 16. Since then, Bancor-controlled address drained nearly USD 460,000 worth of user funds at risk that should be returned to their owners."

"As a result of one of the system’s updates, users who interacted with the upgraded smart contract could lose their funds." "Bancor team may move the *current* funds to another wallet, but can't cancel the allowance. So whenever such an address would receive such a token again, it's money on the floor."

"$545,000 were at risk, but the Bancor team initiated a hack themselves to protect assets." "Looks like they are trying to white-hat drain user funds before someone else can, but it appears they are/were too late in many cases." "Any users who have traded with Bancor during the last 48 hours and granted approvals to the Bancor contract are encouraged to go to approved.zone and revoke all approvals, says the network. In case of help or questions, the protocol is redirecting its users to its Telegram group."

"Besides the team, however, other white-hat hackers managed to drain over $130,000. Bancor got lucky, as it could have been malicious actors."

"The protocol is planning for a major Bancor V2 release next month, and the incident will not affect its launch, Bancor's Head of Growth, Nathaniel Hindman, told Cryptonews." "Bancor’s BNT is one of the cryptocurrencies recently considered for listing at a major U.S.-based cryptocurrency exchange Coinbase."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:

* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - Bancor Self-Hack
!Date
!Event
!Description
|-
|June 28th, 2020 12:00:00 AM
|First Event
|This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
It is unknown how much was recovered.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?

== Prevention Policies ==
Users should not be granting unlimited approvals to any smart contract, or should use a separate wallet for each smart contract with only those funds they are actively using.

Smart contracts should have 2 security audits from independent services, and a third after 6 months of operation. An industry insurance fund should be established to assist users and compensate losses in the event of failure. During the early development stages, until the market is willing to underwrite the entire balance, the vast majority of funds should be stored offline in a multi-signature treasury wallet.

== References ==
[https://cryptobriefing.com/50-million-lost-the-top-19-defi-cryptocurrency-hacks-2020/ Millions Lost: The Top 19 DeFi Cryptocurrency Hacks of 2020 | Crypto Briefing] (May 21)

[https://cryptobriefing.com/what-is-bancor-network-token-introduction-to-bnt-token/ What Is Bancor Network Token? Introduction to BNT Token | Crypto Briefing] (May 22)

[https://medium.com/1inch-network/bancor-network-hack-2020-3c71444fd59d Bancor Network Hack 2020] (May 26)

[https://davidgerard.co.uk/blockchain/2020/06/18/bancor-releases-smart-contract-security-hole-hacks-self-only-loses-a-few-hundred-thousand-dollars-of-user-funds/ Bancor releases smart contract security hole, hacks self, only loses a few hundred thousand dollars of user funds – Attack of the 50 Foot Blockchain] (May 26)

[https://cryptonews.com/news/bancor-discovers-security-vulnerability-drains-usd-460-000-o-6878.htm Bancor Discovers Security Vulnerability, Drains USD 460,000 Of User Funds (UPDATED)] (May 27)

[https://twitter.com/davidgerard/status/1273663321313509376 @davidgerard Twitter] (May 27)

[https://twitter.com/defiprime/status/1273473231739994113 @defiprime Twitter] (May 29)

[https://www.theblockcrypto.com/post/68791/dex-protocol-bancor-suffered-security-vulnerability-migrated-455k-worth-of-user-funds DEX protocol Bancor suffered security vulnerability, migrated $455K worth of user funds] (May 30)

[https://medium.com/zengo/bancor-smart-contracts-vulnerability-and-its-lessons-ce762d09bb9a Bancor Smart Contracts Vulnerability And Its Lessons] (May 30)

[https://personal-financial.com/2020/06/23/victim-of-critical-vulnerability-bancor-decides-to-self-hack-cryptocurrencies/ Victim of Critical Vulnerability, Bancor decides to "self-hack" - Cryptocurrencies - Personal Financial] (May 30)

[https://blockcast.cc/news/what-are-the-possible-security-risks-of-unlimited-token-authorization/ What are the possible security risks of unlimited token authorization? • Blockcast.cc- News on Blockchain, DLT, Cryptocurrency] (Jun 19)

[https://ciphertrace.com/wp-content/uploads/2021/01/CipherTrace-Cryptocurrency-Crime-and-Anti-Money-Laundering-Report-012821.pdf CipherTrace Cryptocurrency Crime and Anti-Money Laundering Report 2020] (Jun 19)

[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 17)

[https://forum.openzeppelin.com/t/list-of-ethereum-smart-contracts-post-mortems/1191 List of Ethereum Smart Contracts Post-Mortems - Security - OpenZeppelin Community] (Jun 22)

[https://twitter.com/amanusk_/status/1273538338633457667 @amanusk_ Twitter] (Jul 24)

[https://zengo.com/badapprove-defi-security/ baDAPProve: DeFi’s Security Issue Explained - ZenGo] (Jul 24)

[https://twitter.com/amanusk_/status/1273542438620147712 @amanusk_ Twitter] (Jul 24)

[https://twitter.com/odedleiba/status/1273536500941144065 @odedleiba Twitter] (Jul 24)

[https://twitter.com/defiprime/status/1273472028129890304 @defiprime Twitter] (Jul 24)

[https://twitter.com/Hex_Capital/status/1273470722342400003 @Hex_Capital Twitter] (Jul 24)

[https://etherscan.io/address/0xc8021b971e69e60c5deede19528b33dcd52cdbd8 https://etherscan.io/address/0xc8021b971e69e60c5deede19528b33dcd52cdbd8] (Jul 24)

[https://medium.com/zengo/badapprove-defis-open-secret-security-issue-and-how-zengo-solves-it-4eb8693a7978 Badapprove Defis Open Secret Security Issue And How Zengo Solves It] (Jul 24)

← Older revision		Revision as of 11:18, 17 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bancorself-hack.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/bancorself-hack.php}}
			{{Unattributed Citations}}

	[[File:Bancor.jpg\|thumb\|Bancor]]An exploit existed in the Bancor smart contract caused by a missing authentication of the "from" address in a "safe" transfer function. The exploit was exposed in March of 2020. Finally, in June 2020, a white hat hacker exploited it, prompting Bancor to exploit the remaining funds themselves.		[[File:Bancor.jpg\|thumb\|Bancor]]An exploit existed in the Bancor smart contract caused by a missing authentication of the "from" address in a "safe" transfer function. The exploit was exposed in March of 2020. Finally, in June 2020, a white hat hacker exploited it, prompting Bancor to exploit the remaining funds themselves.
Line 6:		Line 7:

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="cryptobriefing-825" /><ref name="cryptobriefing-1013" /><ref name="1inchnetworkmedium-1014" /><ref name="davidgerard-1015" /><ref name="cryptonews-1016" /><ref name="davidgerardtwitter-1017" /><ref name="defiprimetwitter-1018" /><ref name="theblockcrypto-1019" /><ref name="zengomedium-1020" /><ref name="personalfinancial-1021" /><ref name="blockcast-1151" /><ref name="ciphertrace-1152" /><ref name="slowmisthacked-678" /><ref name="openzeppelinforum-1155" /><ref name="amanusktwitter-8755" /><ref name="zengo-8756" /><ref name="amanusktwitter-8757" /><ref name="odedleibatwitter-8758" /><ref name="defiprimetwitter-8759" /><ref name="hexcapitaltwitter-8760" /><ref name="etherscan-8761" /><ref name="zengomedium-8762" />

	== About Bancor ==		== About Bancor ==
Line 39:		Line 41:

	Don't Include:		Don't Include:

	* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.		* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
	* Anything that wasn't reasonably knowable at the time of the event.		* Anything that wasn't reasonably knowable at the time of the event.
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	\|-		\|-
	\|June 28th, 2020 12:00:00 AM		\|June 28th, 2020 12:00:00 AM
	\|~~First~~ Event		\|Main Event
	\|~~This is an expanded~~ description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
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	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost ~~is unknown~~.		The total amount lost has been estimated at $585,000 USD.

	How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?		How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
Line 85:		Line 82:

	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ recovered.		The total amount recovered has been estimated at $585,000 USD.

	What funds were recovered? What funds were reimbursed for those affected users?		What funds were recovered? What funds were reimbursed for those affected users?
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	== References ==		== References ==
	[https://cryptobriefing.com/50-million-lost-the-top-19-defi-cryptocurrency-hacks-2020/ Millions Lost: The Top 19 DeFi Cryptocurrency Hacks of 2020 \| Crypto Briefing] (May 21)		<references><ref name="cryptobriefing-825">[https://cryptobriefing.com/50-million-lost-the-top-19-defi-cryptocurrency-hacks-2020/ Millions Lost: The Top 19 DeFi Cryptocurrency Hacks of 2020 \| Crypto Briefing] (May 21, 2021)</ref>

	[https://cryptobriefing.com/what-is-bancor-network-token-introduction-to-bnt-token/ What Is Bancor Network Token? Introduction to BNT Token \| Crypto Briefing] (May 22)		<ref name="cryptobriefing-1013">[https://cryptobriefing.com/what-is-bancor-network-token-introduction-to-bnt-token/ What Is Bancor Network Token? Introduction to BNT Token \| Crypto Briefing] (May 22, 2021)</ref>

	[https://medium.com/1inch-network/bancor-network-hack-2020-3c71444fd59d Bancor Network Hack 2020] (May 26)		<ref name="1inchnetworkmedium-1014">[https://medium.com/1inch-network/bancor-network-hack-2020-3c71444fd59d Bancor Network Hack 2020] (May 26, 2021)</ref>

	[https://davidgerard.co.uk/blockchain/2020/06/18/bancor-releases-smart-contract-security-hole-hacks-self-only-loses-a-few-hundred-thousand-dollars-of-user-funds/ Bancor releases smart contract security hole, hacks self, only loses a few hundred thousand dollars of user funds – Attack of the 50 Foot Blockchain] (May 26)		<ref name="davidgerard-1015">[https://davidgerard.co.uk/blockchain/2020/06/18/bancor-releases-smart-contract-security-hole-hacks-self-only-loses-a-few-hundred-thousand-dollars-of-user-funds/ Bancor releases smart contract security hole, hacks self, only loses a few hundred thousand dollars of user funds – Attack of the 50 Foot Blockchain] (May 26, 2021)</ref>

	[https://cryptonews.com/news/bancor-discovers-security-vulnerability-drains-usd-460-000-o-6878.htm Bancor Discovers Security Vulnerability, Drains USD 460,000 Of User Funds (UPDATED)] (May 27)		<ref name="cryptonews-1016">[https://cryptonews.com/news/bancor-discovers-security-vulnerability-drains-usd-460-000-o-6878.htm Bancor Discovers Security Vulnerability, Drains USD 460,000 Of User Funds (UPDATED)] (May 27, 2021)</ref>

	[https://twitter.com/davidgerard/status/1273663321313509376 @davidgerard Twitter] (May 27)		<ref name="davidgerardtwitter-1017">[https://twitter.com/davidgerard/status/1273663321313509376 @davidgerard Twitter] (May 27, 2021)</ref>

	[https://twitter.com/defiprime/status/1273473231739994113 @defiprime Twitter] (May 29)		<ref name="defiprimetwitter-1018">[https://twitter.com/defiprime/status/1273473231739994113 @defiprime Twitter] (May 29, 2021)</ref>

	[https://www.theblockcrypto.com/post/68791/dex-protocol-bancor-suffered-security-vulnerability-migrated-455k-worth-of-user-funds DEX protocol Bancor suffered security vulnerability, migrated $455K worth of user funds] (May 30)		<ref name="theblockcrypto-1019">[https://www.theblockcrypto.com/post/68791/dex-protocol-bancor-suffered-security-vulnerability-migrated-455k-worth-of-user-funds DEX protocol Bancor suffered security vulnerability, migrated $455K worth of user funds] (May 30, 2021)</ref>

	[https://medium.com/zengo/bancor-smart-contracts-vulnerability-and-its-lessons-ce762d09bb9a Bancor Smart Contracts Vulnerability And Its Lessons] (May 30)		<ref name="zengomedium-1020">[https://medium.com/zengo/bancor-smart-contracts-vulnerability-and-its-lessons-ce762d09bb9a Bancor Smart Contracts Vulnerability And Its Lessons] (May 30, 2021)</ref>

	[https://personal-financial.com/2020/06/23/victim-of-critical-vulnerability-bancor-decides-to-self-hack-cryptocurrencies/ Victim of Critical Vulnerability, Bancor decides to "self-hack" - Cryptocurrencies - Personal Financial] (May 30)		<ref name="personalfinancial-1021">[https://personal-financial.com/2020/06/23/victim-of-critical-vulnerability-bancor-decides-to-self-hack-cryptocurrencies/ Victim of Critical Vulnerability, Bancor decides to "self-hack" - Cryptocurrencies - Personal Financial] (May 30, 2021)</ref>

	[https://blockcast.cc/news/what-are-the-possible-security-risks-of-unlimited-token-authorization/ What are the possible security risks of unlimited token authorization? • Blockcast.cc- News on Blockchain, DLT, Cryptocurrency] (Jun 19)		<ref name="blockcast-1151">[https://blockcast.cc/news/what-are-the-possible-security-risks-of-unlimited-token-authorization/ What are the possible security risks of unlimited token authorization? • Blockcast.cc- News on Blockchain, DLT, Cryptocurrency] (Jun 19, 2021)</ref>

	[https://ciphertrace.com/wp-content/uploads/2021/01/CipherTrace-Cryptocurrency-Crime-and-Anti-Money-Laundering-Report-012821.pdf CipherTrace Cryptocurrency Crime and Anti-Money Laundering Report 2020] (Jun 19)		<ref name="ciphertrace-1152">[https://ciphertrace.com/wp-content/uploads/2021/01/CipherTrace-Cryptocurrency-Crime-and-Anti-Money-Laundering-Report-012821.pdf CipherTrace Cryptocurrency Crime and Anti-Money Laundering Report 2020] (Jun 19, 2021)</ref>

	[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 17)		<ref name="slowmisthacked-678">[https://hacked.slowmist.io/en/?c=ETH%20DApp SlowMist Hacked - SlowMist Zone] (May 17, 2021)</ref>

	[https://forum.openzeppelin.com/t/list-of-ethereum-smart-contracts-post-mortems/1191 List of Ethereum Smart Contracts Post-Mortems - Security - OpenZeppelin Community] (Jun 22)		<ref name="openzeppelinforum-1155">[https://forum.openzeppelin.com/t/list-of-ethereum-smart-contracts-post-mortems/1191 List of Ethereum Smart Contracts Post-Mortems - Security - OpenZeppelin Community] (Jun 22, 2021)</ref>

	[https://twitter.com/amanusk_/status/1273538338633457667 @amanusk_ Twitter] (Jul 24)		<ref name="amanusktwitter-8755">[https://twitter.com/amanusk_/status/1273538338633457667 @amanusk_ Twitter] (Jul 24, 2022)</ref>

	[https://zengo.com/badapprove-defi-security/ baDAPProve: DeFi’s Security Issue Explained - ZenGo] (Jul 24)		<ref name="zengo-8756">[https://zengo.com/badapprove-defi-security/ baDAPProve: DeFi’s Security Issue Explained - ZenGo] (Jul 24, 2022)</ref>

	[https://twitter.com/amanusk_/status/1273542438620147712 @amanusk_ Twitter] (Jul 24)		<ref name="amanusktwitter-8757">[https://twitter.com/amanusk_/status/1273542438620147712 @amanusk_ Twitter] (Jul 24, 2022)</ref>

	[https://twitter.com/odedleiba/status/1273536500941144065 @odedleiba Twitter] (Jul 24)		<ref name="odedleibatwitter-8758">[https://twitter.com/odedleiba/status/1273536500941144065 @odedleiba Twitter] (Jul 24, 2022)</ref>

	[https://twitter.com/defiprime/status/1273472028129890304 @defiprime Twitter] (Jul 24)		<ref name="defiprimetwitter-8759">[https://twitter.com/defiprime/status/1273472028129890304 @defiprime Twitter] (Jul 24, 2022)</ref>

	[https://twitter.com/Hex_Capital/status/1273470722342400003 @Hex_Capital Twitter] (Jul 24)		<ref name="hexcapitaltwitter-8760">[https://twitter.com/Hex_Capital/status/1273470722342400003 @Hex_Capital Twitter] (Jul 24, 2022)</ref>

	[https://etherscan.io/address/0xc8021b971e69e60c5deede19528b33dcd52cdbd8 https://etherscan.io/address/0xc8021b971e69e60c5deede19528b33dcd52cdbd8] (Jul 24)		<ref name="etherscan-8761">[https://etherscan.io/address/0xc8021b971e69e60c5deede19528b33dcd52cdbd8 https://etherscan.io/address/0xc8021b971e69e60c5deede19528b33dcd52cdbd8] (Jul 24, 2022)</ref>

	[https://medium.com/zengo/badapprove-defis-open-secret-security-issue-and-how-zengo-solves-it-4eb8693a7978 Badapprove Defis Open Secret Security Issue And How Zengo Solves It] (Jul 24)		<ref name="zengomedium-8762">[https://medium.com/zengo/badapprove-defis-open-secret-security-issue-and-how-zengo-solves-it-4eb8693a7978 Badapprove Defis Open Secret Security Issue And How Zengo Solves It] (Jul 24, 2022)</ref></references>