EvoDefi Lightning Loan Breach - Revision history

Azoundria at 23:53, 2 May 2023

2023-05-02T23:53:55Z

← Older revision		Revision as of 17:53, 2 May 2023
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	It does not appear that there is any mention of the events on the project Twitter currently, though they have deployed a new version of the smart contract a couple days later.		It does not appear that there is any mention of the events on the project Twitter currently, though they have deployed a new version of the smart contract a couple days later.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="slowmisthacked-678" /><ref name="evodefi-1684" /><ref name="facebook-1685" /><ref name="dappradar-1686" /><ref name="youtube-1687" /><ref name="morioh-1688" /><ref name="coinyuppie-1689" /><ref name="evolutionbsctwitter-1690" /><ref name="0xtrackertwitter-1785" />
	<ref name="slowmisthacked-678" /><ref name="evodefi-1684" /><ref name="facebook-1685" /><ref name="dappradar-1686" /><ref name="youtube-1687" /><ref name="morioh-1688" /><ref name="coinyuppie-1689" /><ref name="evolutionbsctwitter-1690" /><ref name="0xtrackertwitter-1785" />

	== About EvoDefi ==		== About EvoDefi ==
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	!Description		!Description
	\|-		\|-
	\|June 10th, 2021 ~~12:00:00 AM~~		\|June 10th, 2021
	\|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?
			== 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 ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~Which policies could have prevented this event from happening?~~

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

	<ref name="evodefi-1684">[https://evodefi.com/ EVOdefi \| Cross-Chain Yield Farm \| Buy Evolution GENX Token] (Jul 14, 2021)</ref>		<ref name="evodefi-1684">[https://evodefi.com/ EVOdefi \| Cross-Chain Yield Farm \| Buy Evolution GENX Token] (Jul 15, 2021)</ref>

	<ref name="facebook-1685">[https://www.facebook.com/evodefi Evodefi - Facebook] (Jul 14, 2021)</ref>		<ref name="facebook-1685">[https://www.facebook.com/evodefi Evodefi - Facebook] (Jul 15, 2021)</ref>

	<ref name="dappradar-1686">[https://dappradar.com/binance-smart-chain/defi/evodefi Evodefi \| DappRadar] (Jul 14, 2021)</ref>		<ref name="dappradar-1686">[https://dappradar.com/binance-smart-chain/defi/evodefi Evodefi \| DappRadar] (Jul 15, 2021)</ref>

	<ref name="youtube-1687">[https://www.youtube.com/watch?v=ioSPvOOsyNk Cross-Chain Yield Farm! - EvoDefi - YouTube] (Jul 14, 2021)</ref>		<ref name="youtube-1687">[https://www.youtube.com/watch?v=ioSPvOOsyNk Cross-Chain Yield Farm! - EvoDefi - YouTube] (Jul 15, 2021)</ref>

	<ref name="morioh-1688">[https://morioh.com/p/a280be69cab2 Social Network for Programmers and Developers] (Jul 14, 2021)</ref>		<ref name="morioh-1688">[https://morioh.com/p/a280be69cab2 Social Network for Programmers and Developers] (Jul 15, 2021)</ref>

	<ref name="coinyuppie-1689">[https://coinyuppie.com/analysis-of-the-lightning-loan-attack-on-bsc-chains-evodefi/ Analysis of the Lightning Loan Attack on BSC Chain's EvoDeFi - CoinYuppie: Bitcoin, Ethereum,NFT, DeFi, Dogecoin, Crypto News] (Jul 14, 2021)</ref>		<ref name="coinyuppie-1689">[https://coinyuppie.com/analysis-of-the-lightning-loan-attack-on-bsc-chains-evodefi/ Analysis of the Lightning Loan Attack on BSC Chain's EvoDeFi - CoinYuppie: Bitcoin, Ethereum,NFT, DeFi, Dogecoin, Crypto News] (Jul 15, 2021)</ref>

	<ref name="evolutionbsctwitter-1690">[https://twitter.com/evolution_bsc/status/1403669227781771267 @evolution_bsc Twitter] (Jul 14, 2021)</ref>		<ref name="evolutionbsctwitter-1690">[https://twitter.com/evolution_bsc/status/1403669227781771267 @evolution_bsc Twitter] (Jul 15, 2021)</ref>

	<ref name="0xtrackertwitter-1785">[https://twitter.com/0x_tracker/status/1404126770878685184 @0x_tracker Twitter] (Jul 23, 2021)</ref></references>		<ref name="0xtrackertwitter-1785">[https://twitter.com/0x_tracker/status/1404126770878685184 @0x_tracker Twitter] (Jul 24, 2021)</ref></references>

Azoundria at 17:34, 22 February 2023

2023-02-22T17:34:14Z

← Older revision		Revision as of 11:34, 22 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/evodefilightningloanbreach.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/evodefilightningloanbreach.php}}
			{{Unattributed Sources}}

	[[File:Evodefi.jpg\|thumb\|EvoDefi]]The EvoDefi project fell victim to a lightning loan attack, which allowed for minting additional GEN tokens, and caused a drop in the price.		[[File:Evodefi.jpg\|thumb\|EvoDefi]]The EvoDefi project fell victim to a lightning loan attack, which allowed for minting additional GEN tokens, and caused a drop in the price.
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	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="slowmisthacked-678" /><ref name="evodefi-1684" /><ref name="facebook-1685" /><ref name="dappradar-1686" /><ref name="youtube-1687" /><ref name="morioh-1688" /><ref name="coinyuppie-1689" /><ref name="evolutionbsctwitter-1690" /><ref name="0xtrackertwitter-1785" />

	== About EvoDefi ==		== About EvoDefi ==
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	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~The total amount~~ recovered ~~has been estimated at $0 USD~~.		There do not appear to have been any funds recovered in this case.

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

	[https://evodefi.com/ EVOdefi \| Cross-Chain Yield Farm \| Buy Evolution GENX Token] (Jul 14)		<ref name="evodefi-1684">[https://evodefi.com/ EVOdefi \| Cross-Chain Yield Farm \| Buy Evolution GENX Token] (Jul 14, 2021)</ref>

	[https://www.facebook.com/evodefi Evodefi - Facebook] (Jul 14)		<ref name="facebook-1685">[https://www.facebook.com/evodefi Evodefi - Facebook] (Jul 14, 2021)</ref>

	[https://dappradar.com/binance-smart-chain/defi/evodefi Evodefi \| DappRadar] (Jul 14)		<ref name="dappradar-1686">[https://dappradar.com/binance-smart-chain/defi/evodefi Evodefi \| DappRadar] (Jul 14, 2021)</ref>

	[https://www.youtube.com/watch?v=ioSPvOOsyNk Cross-Chain Yield Farm! - EvoDefi - YouTube] (Jul 14)		<ref name="youtube-1687">[https://www.youtube.com/watch?v=ioSPvOOsyNk Cross-Chain Yield Farm! - EvoDefi - YouTube] (Jul 14, 2021)</ref>

	[https://morioh.com/p/a280be69cab2 Social Network for Programmers and Developers] (Jul 14)		<ref name="morioh-1688">[https://morioh.com/p/a280be69cab2 Social Network for Programmers and Developers] (Jul 14, 2021)</ref>

	[https://coinyuppie.com/analysis-of-the-lightning-loan-attack-on-bsc-chains-evodefi/ Analysis of the Lightning Loan Attack on BSC Chain's EvoDeFi - CoinYuppie: Bitcoin, Ethereum,NFT, DeFi, Dogecoin, Crypto News] (Jul 14)		<ref name="coinyuppie-1689">[https://coinyuppie.com/analysis-of-the-lightning-loan-attack-on-bsc-chains-evodefi/ Analysis of the Lightning Loan Attack on BSC Chain's EvoDeFi - CoinYuppie: Bitcoin, Ethereum,NFT, DeFi, Dogecoin, Crypto News] (Jul 14, 2021)</ref>

	[https://twitter.com/evolution_bsc/status/1403669227781771267 @evolution_bsc Twitter] (Jul 14)		<ref name="evolutionbsctwitter-1690">[https://twitter.com/evolution_bsc/status/1403669227781771267 @evolution_bsc Twitter] (Jul 14, 2021)</ref>

	[https://twitter.com/0x_tracker/status/1404126770878685184 @0x_tracker Twitter] (Jul 23)		<ref name="0xtrackertwitter-1785">[https://twitter.com/0x_tracker/status/1404126770878685184 @0x_tracker Twitter] (Jul 23, 2021)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/evodefilightningloanbreach.php}} EvoDefiThe EvoDefi project fell victim to a lightning loan attack, which allowed for minting additional GEN tokens, and caused a drop in the price. It does not appear that there is any mention of the events on the project Twitter currently, though they have deployed a new version of the smart contract a couple days later. This is a glob..."

2023-01-27T18:28:31Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/evodefilightningloanbreach.php}} thumb|EvoDefiThe EvoDefi project fell victim to a lightning loan attack, which allowed for minting additional GEN tokens, and caused a drop in the price. It does not appear that there is any mention of the events on the project Twitter currently, though they have deployed a new version of the smart contract a couple days later. This is a glob..."

New page

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

[[File:Evodefi.jpg|thumb|EvoDefi]]The EvoDefi project fell victim to a lightning loan attack, which allowed for minting additional GEN tokens, and caused a drop in the price.

It does not appear that there is any mention of the events on the project Twitter currently, though they have deployed a new version of the smart contract a couple days later.

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

== About EvoDefi ==
"Evolution project is the first to introduce elastic emission of token per block making the next step in the yield farming industry. It adds powerful layer to tokenomics and strengthens sustainability of the farm. Emission is tied up to…" "Until now modern approach of well known yield farms stood on entry fees, buys back, burns, lotteries and other mechanisms to improve tokenomics viability. Yet is seems to be not enough for most of the farms to remain sustainable."

"According to tweets, on June 10, the EvoDeFi project on the BSC chain was attacked by a lightning loan. KnowChuangYu Blockchain Security Lab was the first to track this event and analyze it."

"Due to a design flaw in the update logic of the function in the MasterChef contract, the part of the reward that needs to be deducted is not updated, which leads to arbitrage by attackers. There are frequent outbreaks of attacks on the BSC chain, and contract security needs to be given sufficient attention."

"Attack Process: Lend 273,360.811 GEN via Pancake Lightning Loan. Transfer all GEN to the subcontract, call the subcontract 0x6ead30df method. Call the deposit function of MasterChef to pledge all GENs. Call MasterChef’s depositNFT function to pledge GenNFT. Call MasterChef’s updatePower function to update, due to a design flaw in the updatePower function, the rewardDebt is not updated. Call MasterChef’s withdraw function to redeem all pledged GENs, due to the update flaw in the previous step, the reward is incremented. Transfer all the profitable GENs back to the attack contract 0x1cb6 via the subcontract transfer function."

"EvoDefi, the project revenue farm on the BSC chain, was attacked, and the price of its token GEN dropped from US$2.1/piece to US$0.9/piece, a short-term drop of 57%. Loss of 455,576.85 GEN worth approximately USD 1 million."

"We have now released Evodefi v2, there will be more networks available, lower handling fees and better liquidity."

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 - EvoDefi Lightning Loan Breach
!Date
!Event
!Description
|-
|June 10th, 2021 12:00:00 AM
|Main Event
|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost has been estimated at $1,000,000 USD.

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

== 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 ==
The total amount recovered has been estimated at $0 USD.

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 ==
Which policies could have prevented this event from happening?

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

[https://evodefi.com/ EVOdefi | Cross-Chain Yield Farm | Buy Evolution GENX Token] (Jul 14)

[https://www.facebook.com/evodefi Evodefi - Facebook] (Jul 14)

[https://dappradar.com/binance-smart-chain/defi/evodefi Evodefi | DappRadar] (Jul 14)

[https://www.youtube.com/watch?v=ioSPvOOsyNk Cross-Chain Yield Farm! - EvoDefi - YouTube] (Jul 14)

[https://morioh.com/p/a280be69cab2 Social Network for Programmers and Developers] (Jul 14)

[https://coinyuppie.com/analysis-of-the-lightning-loan-attack-on-bsc-chains-evodefi/ Analysis of the Lightning Loan Attack on BSC Chain's EvoDeFi - CoinYuppie: Bitcoin, Ethereum,NFT, DeFi, Dogecoin, Crypto News] (Jul 14)

[https://twitter.com/evolution_bsc/status/1403669227781771267 @evolution_bsc Twitter] (Jul 14)

[https://twitter.com/0x_tracker/status/1404126770878685184 @0x_tracker Twitter] (Jul 23)