Visor Finance Unlimited Minting - Revision history

Azoundria: Another 30 minutes complete. Additional sources merged in. Prevention completed. Information moved around.

2023-09-05T20:46:43Z

Another 30 minutes complete. Additional sources merged in. Prevention completed. Information moved around.

← Older revision		Revision as of 14:46, 5 September 2023
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	[[File:Visorfinance.jpg\|thumb\|Visor Finance Homepage]]Due to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens.		[[File:Visorfinance.jpg\|thumb\|Visor Finance Homepage]]Due to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens.

	~~This is a global/international case not involving a specific country.~~<ref name="rektnews-5120" /><ref name="gammastrategiestwitter-5121" /><ref name="visorfinancemedium-5122" /><ref name="gammastrategiesmedium-5123" /><ref name="coingape-5124" />		<ref name="rektnews-5120" /><ref name="gammastrategiestwitter-5121" /><ref name="visorfinancemedium-5122" /><ref name="gammastrategiesmedium-5123" /><ref name="coingape-5124" />

	== About Visor Finance ==		== About Visor Finance ==
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	\|Santa Hackathon Article		\|Santa Hackathon Article
	\|The Visor Finance hack is listed as the seventh attack in December by a cryptonews article<ref name="cryptonews-9850" />. The hack resulted in the loss of approximately $8.2 million worth of digital assets. The project's team confirmed the hack and stated that they would reimburse affected users. The attack drained Visor Finance's staking contract, involving over 8.8 million VISR tokens, valued at over $8 million at the time of the hack. The hacker had swapped most of the VISR tokens for Ethereum (ETH) on Uniswap and used Tornado Cash for privacy. However, due to token illiquidity, the hacker ended up with only around 200 ETH (approximately $812,000). Visor Finance plans to launch a new token with a different ticker and allow users to redeem it at a 1:1 ratio, listing it on various registries. As a result of the hack, VISR's value plummeted by 96% over 24 hours, trading at $0.038.		\|The Visor Finance hack is listed as the seventh attack in December by a cryptonews article<ref name="cryptonews-9850" />. The hack resulted in the loss of approximately $8.2 million worth of digital assets. The project's team confirmed the hack and stated that they would reimburse affected users. The attack drained Visor Finance's staking contract, involving over 8.8 million VISR tokens, valued at over $8 million at the time of the hack. The hacker had swapped most of the VISR tokens for Ethereum (ETH) on Uniswap and used Tornado Cash for privacy. However, due to token illiquidity, the hacker ended up with only around 200 ETH (approximately $812,000). Visor Finance plans to launch a new token with a different ticker and allow users to redeem it at a 1:1 ratio, listing it on various registries. As a result of the hack, VISR's value plummeted by 96% over 24 hours, trading at $0.038.
			\|-
			\|December 22nd, 2021 2:20:26 AM MST
			\|CoinGape Article Published
			\|Following the exploit that led to the loss of 8.8 million VISR tokens and a subsequent 94% drop in the token's price, Visor Finance has decided to launch a new token to replace the stolen VISR. This decision was outlined in Visor's post-mortem report on the hack<ref name="coingape-5124" />. To prevent confusion, the new token will have a different ticker symbol from VISR. Visor Finance has initiated the listing process for the new token on various registries to ensure visibility and recognition by decentralized exchanges and wallets. Visor Finance plans to revise the flawed staking contract. Visor Finance has engaged with auditing firms Quantstamp and ConsenSys Diligence for audits in December and January, with the new staking contract included in the scope of these audits.
	\|-		\|-
	\|December 22nd, 2021 2:46:45 AM MST		\|December 22nd, 2021 2:46:45 AM MST
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	== Technical Details ==		== Technical Details ==

			The hack primarily exploited flaws in the vVISR staking contract, allowing attackers to re-enter and mint additional vVISR tokens while enabling limitless minting to exacerbate the impact of the exploit. In response, Visor Finance plans to revise the flawed staking contract, ensuring it does not rely on a user-provided contract for the necessary transfer function. Instead, it will rely on a fixed transfer implementation like ERC20<ref name="coingape-5124" />.


	FXEmpire reports that Visor Finance, a DeFi protocol, suffered a significant hack resulting in the loss of 8.8 million VISR tokens, valued at around $8.2 million at the time of the breach. The exploit was attributed to a reentrancy flaw that allowed hackers to manipulate the protocol's rewards contract and generate extra VISR tokens. The attack primarily impacted stakers and token holders, causing VISR's value to plummet by 95%. To compensate affected users, Visor Finance plans to conduct a token migration, allowing them to exchange their existing tokens for new ones based on a snapshot taken before the hack. Despite this incident, Visor Finance has previously faced breaches in 2021 and aims to improve security through ongoing audits. This news is shared through Yahoo Finance<ref name="yahoofinance-5125" />.		FXEmpire reports that Visor Finance, a DeFi protocol, suffered a significant hack resulting in the loss of 8.8 million VISR tokens, valued at around $8.2 million at the time of the breach. The exploit was attributed to a reentrancy flaw that allowed hackers to manipulate the protocol's rewards contract and generate extra VISR tokens. The attack primarily impacted stakers and token holders, causing VISR's value to plummet by 95%. To compensate affected users, Visor Finance plans to conduct a token migration, allowing them to exchange their existing tokens for new ones based on a snapshot taken before the hack. Despite this incident, Visor Finance has previously faced breaches in 2021 and aims to improve security through ongoing audits. This news is shared through Yahoo Finance<ref name="yahoofinance-5125" />.



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	== Ultimate Outcome ==		== Ultimate Outcome ==

			Following the exploit that led to the loss of 8.8 million VISR tokens and a subsequent 94% drop in the token's price, Visor Finance has decided to launch a new token to replace the stolen VISR. This decision was outlined in Visor's post-mortem report on the hack<ref name="coingape-5124" />.

			To prevent confusion, the new token will have a different ticker symbol from VISR. Visor Finance has initiated the listing process for the new token on various registries to ensure visibility and recognition by decentralized exchanges and wallets. They have strongly advised against purchasing the old VISR, as it will not be redeemable for the replacement token<ref name="coingape-5124" />.


			Visor Finance has engaged with auditing firms Quantstamp and ConsenSys Diligence for audits in December and January, with the new staking contract included in the scope of these audits.<ref name="coingape-5124" />


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	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~There do not appear to have been any funds recovered in~~ this ~~case.~~		Affected users of the Visor Protocol received GAMMA tokens as compensation for their loss.

			TBD - Was this equivalent/satisfactory?

	== Ongoing Developments ==		== Ongoing Developments ==
	TBD		TBD
	== Individual Prevention Policies ==		== Individual Prevention Policies ==
	Visor Finance smart contracts were unaudited~~. Unaudited smart contracts can often contain vulnerabilities which may be exploited~~. Ensuring that smart contracts are audited, ideally by two or three ~~competent~~ smart contract auditing services, ~~has been shown~~ to ~~massively reduce the risks~~.		Visor Finance smart contracts were unaudited. Ensuring that smart contracts are audited, ideally by two or three reputable smart contract auditing services, would be highly likely to have caught issues such as this one. Unaudited smart contracts can often contain vulnerabilities which may be exploited and result in loss of funds.

	{{Prevention:Individuals:Safe Smart Contract Usage}}		{{Prevention:Individuals:Safe Smart Contract Usage}}
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	{{Prevention:Platforms:Regular Audit Procedures}}		{{Prevention:Platforms:Regular Audit Procedures}}

	In general, complex smart contract hot wallets ~~shouldn't be~~ in charge of minting. Instead, ~~this~~ should be the responsibility of a multi-sig wallet with keys securely held by trusted individuals.		In general, having complex smart contract hot wallets in charge of minting is risky. Instead, amounts under the control of the smart contract should be limited and larger mints should be the responsibility of a multi-sig wallet with keys securely held by trusted individuals.

	{{Prevention:Platforms:Implement Multi-Signature}}		{{Prevention:Platforms:Implement Multi-Signature}}

	In the event that protocols are breached, it is also important to have funds available to assist victims.		In the event that protocols are breached, it is also important to have funds available to assist victims. While in this case, assistance came from the protocol, other situations may not compensate users. While assistance from an industry insurance fund is discretionary, and could be limited in cases where users used an unaudited smart contract, it would be able to assist quickly and prevent the devastation of a total capital loss.

	{{Prevention:Platforms:Establish Industry Insurance Fund}}		{{Prevention:Platforms:Establish Industry Insurance Fund}}
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	== Regulatory Prevention Policies ==		== Regulatory Prevention Policies ==
	The Visor Finance protocol contained an infinite mint exploit, which could very likely have been uncovered through an audit of the protocol. However, the protocol was never audited prior to the exploit. ~~In the event that protocols are breached, it is also important to have funds available to assist victims~~.		The Visor Finance protocol contained an infinite mint exploit, which could very likely have been uncovered through an audit of the protocol. However, the protocol was never audited prior to the exploit. Standardizing audits of all services can help prevent similar exploits and losses.

	{{Prevention:Regulators:Platform Security Assessments}}		{{Prevention:Regulators:Platform Security Assessments}}

			Users should be educated to ensure that they are aware of the risks and will choose to use audited protocols.

			{{Prevention:Regulators:Cryptocurrency Education Mandate}}

			In the event that protocols are breached, it is also important to have funds available to assist victims. While in this case, assistance came from the protocol, other situations may not compensate users. While assistance from an industry insurance fund is discretionary, and could be limited in cases where users used an unaudited smart contract, it would be able to assist quickly and prevent the devastation of a total capital loss.

	{{Prevention:Regulators:Establish Industry Insurance Fund}}		{{Prevention:Regulators:Establish Industry Insurance Fund}}
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	<ref name="visorfinancemedium-5122">[https://medium.com/visorfinance/post-mortem-for-vvisr-staking-contract-exploit-and-upcoming-migration-7920e1dee55a Post Mortem For Vvisr Staking Contract Exploit And Upcoming Migration] (Jan 3, 2022)</ref>		<ref name="visorfinancemedium-5122">[https://medium.com/visorfinance/post-mortem-for-vvisr-staking-contract-exploit-and-upcoming-migration-7920e1dee55a Post Mortem For Vvisr Staking Contract Exploit And Upcoming Migration] (Jan 3, 2022)</ref>
	<ref name="gammastrategiesmedium-5123">[https://medium.com/gamma-strategies/visor-merges-with-gamma-a-re-org-focusing-on-security-and-performance-b4deaf67e273 Visor Merges With Gamma A Re Org Focusing On Security And Performance] (Jan 3, 2022)</ref>		<ref name="gammastrategiesmedium-5123">[https://medium.com/gamma-strategies/visor-merges-with-gamma-a-re-org-focusing-on-security-and-performance-b4deaf67e273 Visor Merges With Gamma A Re Org Focusing On Security And Performance] (Jan 3, 2022)</ref>
	<ref name="coingape-5124">[https://coingape.com/defi-hack-visor-finance-to-launch-new-token-post-94-drop-in-price-after-exploit/ Defi Hack: Visor Finance to launch new token post 94% drop in price after exploit] (Jan 3, 2022)</ref>		<ref name="coingape-5124">[https://coingape.com/defi-hack-visor-finance-to-launch-new-token-post-94-drop-in-price-after-exploit/ Defi Hack: Visor Finance to launch new token post 94% drop in price after exploit - CoinGape] (Jan 3, 2022)</ref>
	<ref name="yahoofinance-5125">[https://ca.finance.yahoo.com/news/visor-finance-suffers-another-defi-094645929.html Visor Finance Suffers another DeFi Hack as Losses Mount Up to $8.2M - Yahoo Finance] (Jan 3, 2022)</ref>		<ref name="yahoofinance-5125">[https://ca.finance.yahoo.com/news/visor-finance-suffers-another-defi-094645929.html Visor Finance Suffers another DeFi Hack as Losses Mount Up to $8.2M - Yahoo Finance] (Jan 3, 2022)</ref>
	<ref name="coinjournal-5126">[https://coinjournal.net/news/this-is-why-visor-finance-visr-price-plummeting/ This is why Visor Finance (VISR) price plummeting] (Jan 3, 2022)</ref>		<ref name="coinjournal-5126">[https://coinjournal.net/news/this-is-why-visor-finance-visr-price-plummeting/ This is why Visor Finance (VISR) price plummeting] (Jan 3, 2022)</ref>

Azoundria: Another 30 minutes complete. Additional sources merged in. Prevention completed. Information moved around.

2023-09-03T23:41:58Z

Another 30 minutes complete. Additional sources merged in. Prevention completed. Information moved around.

Show changes

Azoundria at 21:36, 7 May 2023

2023-05-07T21:36:40Z

← Older revision		Revision as of 15:36, 7 May 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/visorfinanceunlimitedminting.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/visorfinanceunlimitedminting.php}}
	{{Unattributed Sources}}		{{Unattributed Sources}}

	[[File:Visorfinance.jpg\|thumb\|Visor Finance]]Due to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens.		[[File:Visorfinance.jpg\|thumb\|Visor Finance]]Due to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="rektnews-5120" /><ref name="visorfinance-1659" /><ref name="gammastrategiestwitter-5121" /><ref name="visorfinancemedium-5122" /><ref name="gammastrategiesmedium-5123" /><ref name="coingape-5124" /><ref name="yahoofinance-5125" /><ref name="coinjournal-5126" /><ref name="gammastrategiestwitter-5127" /><ref name="cryptonews-9850" />
	<ref name="rektnews-5120" /><ref name="visorfinance-1659" /><ref name="gammastrategiestwitter-5121" /><ref name="visorfinancemedium-5122" /><ref name="gammastrategiesmedium-5123" /><ref name="coingape-5124" /><ref name="yahoofinance-5125" /><ref name="coinjournal-5126" /><ref name="gammastrategiestwitter-5127" /><ref name="cryptonews-9850" />

	== About Visor Finance ==		== About Visor Finance ==
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	!Description		!Description
	\|-		\|-
	\|December 22nd, 2021 ~~12:00:00 AM~~		\|December 22nd, 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?
			== General Prevention Policies ==
			In general, complex smart contract hot wallets shouldn't be in charge of minting. Instead, this should always be the responsibility of a simple multi-sig wallet with cold storage keys held by trusted individuals. If a hot wallet is needed for distribution, that should be audited by two competent firms and never exceed a value which the project can self-insure from other liquid assets.
			== 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}}
	In general, complex smart contract hot wallets shouldn't be in charge of minting. Instead, this should always be the responsibility of a simple multi-sig wallet with cold storage keys held by trusted individuals. If a hot wallet is needed for distribution, that should be audited by two competent firms and never exceed a value which the project can self-insure from other liquid assets.

	== References ==		== References ==

Azoundria at 19:50, 28 February 2023

2023-02-28T19:50:00Z

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/visorfinanceunlimitedminting.php}} Visor FinanceDue to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens. This is a global/international case not involvi..."

2023-01-28T16:30:50Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/visorfinanceunlimitedminting.php}} thumb|Visor FinanceDue to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens. This is a global/international case not involvi..."

New page

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

[[File:Visorfinance.jpg|thumb|Visor Finance]]Due to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens.

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

== About Visor Finance ==
"Visor Finance is a Uniswap based protocol that is specialized in NFT smart vaults for liquidity provisioning. It predicts the DeFi ecosystem where market conditions can unlock liquidity from networks of independent smart vaults."

"Visor allows DeFi participants to utilize NFT Smart Vaults for liquidity provisioning and active liquidity management on Uniswap v3." "Visor's community is thousands strong and is distributed across a variety of channels."

"As @uniswap v3 makes liquidity provision more complicated for the common man, @VisorFinance allows you to compete with professional liquidity providers by pooling peoples liquidity together and dynamically concentrating it around price to maximize returns for you."

"It is the season of giving, and Visor Finance is going all in. Visor allowed an anonymous actor to mint $8.2M in VISR."

"On December 21st 2021 02:29:11 PM UTC a malicious contract drained Visor Finance’s staking contract of 8,812,958 VISR tokens." "Hackers used the IVisor delegateTransferERC20 interface to generate the exploit. The hackers also used the withdrawal function of the staking contract to call for the desired VISR amount. As a result, reliance on an external IVisor delegateTransferERC20 implementation by the caller allowed the exploit to succeed."

"As long as the hacker passes their own contract as “from” and the contract has an Owner() method of msg.sender, then they can mint as many shares as they want to any address using vvisr.mint()."

"The attack was made possible by implementing the IVisor delegateTransferERC20 interface and calling the staking contract’s withdraw function with the desired VISR amount. Dependence on arbitrary IVisor delegateTransferERC20 implementation by caller allowed for the attack to take place."

"The staking contract should not rely on a user provided contract to implement the required transfer function. The staking contract should instead rely on a fixed transfer implementation such as ERC20.transferFrom."

"The attacker transferred ownership of the contract to its own address, before executing the exploit transaction, minting 195k vVISR tokens."

"These were then burned for 8.8M VISR before being swapped via Uniswap v2 for ETH and washed via Tornado Cash in 7 subsequent transactions totalling 113 ETH ($450k) so far."

"Post exploit, VISR’s price witnessed a steep drop amounting to 94 percent. At press time, VISR was trading at the price of $0.054998, with a market cap that stood slightly over $1 million, according to CoinMarketCap data."

"We will only manage funds using contracts audited by tier one audit firms." "We are engaged with both Quantstamp and ConsenSys Diligence for December and January audits and this new staking contract will be included."

"Launching a new token that replaces the old one is confusing if the ticker stays the same. What we have opted to do is replace the old VISR token ticker symbol with the new one. All tokenomics will stay the same and there will be a redemption (from the time of the snapshot) of 1:1 with the new token, including those staked in the vVISR contract and the those staked in Tokemak. We have already begun the process of listing the new token on various registries in order to make sure the new token is visible and recognized by dexes and wallets starting day one. No one should buy VISR as it will not be redeemable for the new token."

"Since the initial grant from Visor in May 2021, Gamma’s team has worked closely with Visor and has made extraordinary progress on defining and becoming the leading active liquidity manager."

"For the past 6 months the Gamma team has worked on all the tooling necessary to interface with position management as well as develop active liquidity strategies managing $25M in TVL and 40+ pairs for both retail LP’s and projects. We have an incredible structure in place that allows us to execute on the most competitive aspect of active liquidity management: the strategies."

"In addition to managing all positions, Gamma also develops and maintains the Active Strategy Framework, Uniswap position discovery for Mainnet, and Optimism and various deployed strategies that are currently active across all pairs."

"Visor is merging with Gamma Strategies." "[W]e have reached unanimous agreement as two teams that the appropriate outcome is to merge the protocol, treasury and personnel with Gamma Strategies." "Tomorrow, Gamma will be providing liquidity for $GAMMA and will be distributing tokens to all VISR, vVISR and tVISR holders at time of snapshot (occurred December 21st)."

"GAMMA token has been minted and all tokens will be distributed to all VISR, vVISR and tVISR holders at time of snapshot within the next 24 hours." "The $GAMMA token has been distributed to all addresses and liquidity has been deployed to Uniswap v3 of identical amounts and price at the time of the snapshot."

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 - Visor Finance Unlimited Minting
!Date
!Event
!Description
|-
|December 22nd, 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 $8,200,000 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 ==
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?

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

== Prevention Policies ==
In general, complex smart contract hot wallets shouldn't be in charge of minting. Instead, this should always be the responsibility of a simple multi-sig wallet with cold storage keys held by trusted individuals. If a hot wallet is needed for distribution, that should be audited by two competent firms and never exceed a value which the project can self-insure from other liquid assets.

== References ==
[https://rekt.news/visor-finance-rekt/ Rekt - Visor Finance - REKT] (Jan 3)

[https://www.visor.finance/ Visor Finance - Active Liquidity Management on Uniswap v3] (Jul 13)

[https://twitter.com/GammaStrategies/status/1474507917361565698 @GammaStrategies Twitter] (Jan 3)

[https://medium.com/visorfinance/post-mortem-for-vvisr-staking-contract-exploit-and-upcoming-migration-7920e1dee55a Post Mortem For Vvisr Staking Contract Exploit And Upcoming Migration] (Jan 3)

[https://medium.com/gamma-strategies/visor-merges-with-gamma-a-re-org-focusing-on-security-and-performance-b4deaf67e273 Visor Merges With Gamma A Re Org Focusing On Security And Performance] (Jan 3)

[https://coingape.com/defi-hack-visor-finance-to-launch-new-token-post-94-drop-in-price-after-exploit/ Defi Hack: Visor Finance to launch new token post 94% drop in price after exploit] (Jan 3)

[https://ca.finance.yahoo.com/news/visor-finance-suffers-another-defi-094645929.html Visor Finance Suffers another DeFi Hack as Losses Mount Up to $8.2M] (Jan 3)

[https://coinjournal.net/news/this-is-why-visor-finance-visr-price-plummeting/ This is why Visor Finance (VISR) price plummeting] (Jan 3)

[https://twitter.com/GammaStrategies/status/1473306777131405314 @GammaStrategies Twitter] (Jan 3)

[https://cryptonews.com/news/santa-hackathon-visor-finance-marks-7th-hack-december.htm Santa Hackathon? Visor Finance Marks 7th Hack in December] (Dec 1)

← Older revision		Revision as of 13:50, 28 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/visorfinanceunlimitedminting.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/visorfinanceunlimitedminting.php}}
			{{Unattributed Sources}}

	[[File:Visorfinance.jpg\|thumb\|Visor Finance]]Due to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens.		[[File:Visorfinance.jpg\|thumb\|Visor Finance]]Due to a bug in the Visor Finance smart contract, an attacker was able to mint an unlimited number of VISR tokens. These were then sold on the open market. The Visor Finance project has merged with Gamma Strategies, and all affected users will be issued new GAMMA tokens.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="rektnews-5120" /><ref name="visorfinance-1659" /><ref name="gammastrategiestwitter-5121" /><ref name="visorfinancemedium-5122" /><ref name="gammastrategiesmedium-5123" /><ref name="coingape-5124" /><ref name="yahoofinance-5125" /><ref name="coinjournal-5126" /><ref name="gammastrategiestwitter-5127" /><ref name="cryptonews-9850" />

	== About Visor Finance ==		== About Visor Finance ==
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	== References ==		== References ==
	[https://rekt.news/visor-finance-rekt/ Rekt - Visor Finance - REKT] (Jan 3)		<references><ref name="rektnews-5120">[https://rekt.news/visor-finance-rekt/ Rekt - Visor Finance - REKT] (Jan 3, 2022)</ref>

	[https://www.visor.finance/ Visor Finance - Active Liquidity Management on Uniswap v3] (Jul 13)		<ref name="visorfinance-1659">[https://www.visor.finance/ Visor Finance - Active Liquidity Management on Uniswap v3] (Jul 14, 2021)</ref>

	[https://twitter.com/GammaStrategies/status/1474507917361565698 @GammaStrategies Twitter] (Jan 3)		<ref name="gammastrategiestwitter-5121">[https://twitter.com/GammaStrategies/status/1474507917361565698 @GammaStrategies Twitter] (Jan 3, 2022)</ref>

	[https://medium.com/visorfinance/post-mortem-for-vvisr-staking-contract-exploit-and-upcoming-migration-7920e1dee55a Post Mortem For Vvisr Staking Contract Exploit And Upcoming Migration] (Jan 3)		<ref name="visorfinancemedium-5122">[https://medium.com/visorfinance/post-mortem-for-vvisr-staking-contract-exploit-and-upcoming-migration-7920e1dee55a Post Mortem For Vvisr Staking Contract Exploit And Upcoming Migration] (Jan 3, 2022)</ref>

	[https://medium.com/gamma-strategies/visor-merges-with-gamma-a-re-org-focusing-on-security-and-performance-b4deaf67e273 Visor Merges With Gamma A Re Org Focusing On Security And Performance] (Jan 3)		<ref name="gammastrategiesmedium-5123">[https://medium.com/gamma-strategies/visor-merges-with-gamma-a-re-org-focusing-on-security-and-performance-b4deaf67e273 Visor Merges With Gamma A Re Org Focusing On Security And Performance] (Jan 3, 2022)</ref>

	[https://coingape.com/defi-hack-visor-finance-to-launch-new-token-post-94-drop-in-price-after-exploit/ Defi Hack: Visor Finance to launch new token post 94% drop in price after exploit] (Jan 3)		<ref name="coingape-5124">[https://coingape.com/defi-hack-visor-finance-to-launch-new-token-post-94-drop-in-price-after-exploit/ Defi Hack: Visor Finance to launch new token post 94% drop in price after exploit] (Jan 3, 2022)</ref>

	[https://ca.finance.yahoo.com/news/visor-finance-suffers-another-defi-094645929.html Visor Finance Suffers another DeFi Hack as Losses Mount Up to $8.2M] (Jan 3)		<ref name="yahoofinance-5125">[https://ca.finance.yahoo.com/news/visor-finance-suffers-another-defi-094645929.html Visor Finance Suffers another DeFi Hack as Losses Mount Up to $8.2M] (Jan 3, 2022)</ref>

	[https://coinjournal.net/news/this-is-why-visor-finance-visr-price-plummeting/ This is why Visor Finance (VISR) price plummeting] (Jan 3)		<ref name="coinjournal-5126">[https://coinjournal.net/news/this-is-why-visor-finance-visr-price-plummeting/ This is why Visor Finance (VISR) price plummeting] (Jan 3, 2022)</ref>

	[https://twitter.com/GammaStrategies/status/1473306777131405314 @GammaStrategies Twitter] (Jan 3)		<ref name="gammastrategiestwitter-5127">[https://twitter.com/GammaStrategies/status/1473306777131405314 @GammaStrategies Twitter] (Jan 3, 2022)</ref>

	[https://cryptonews.com/news/santa-hackathon-visor-finance-marks-7th-hack-december.htm Santa Hackathon? Visor Finance Marks 7th Hack in December] (Dec 1)		<ref name="cryptonews-9850">[https://cryptonews.com/news/santa-hackathon-visor-finance-marks-7th-hack-december.htm Santa Hackathon? Visor Finance Marks 7th Hack in December] (Dec 1, 2022)</ref></references>