WeDEX Flash Loan Attack - Revision history

Azoundria at 18:05, 4 May 2023

2023-05-04T18:05:29Z

← Older revision		Revision as of 12:05, 4 May 2023
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	[[File:Wedex.jpg\|thumb\|WeDEX]]The WeDEX smart contract hot wallet was reportedly exploited for $100k. Shortly afterward, the team optained an audit. It's unclear if the team has done anything to compensate affected users.		[[File:Wedex.jpg\|thumb\|WeDEX]]The WeDEX smart contract hot wallet was reportedly exploited for $100k. Shortly afterward, the team optained an audit. It's unclear if the team has done anything to compensate 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="certikorgtwitter-5470" /><ref name="bscscan-5471" /><ref name="certik-5472" /><ref name="certikorgtwitter-5473" /><ref name="bscscan-5474" /><ref name="youtube-5475" /><ref name="dappdotcom-5476" /><ref name="wedexapp-5477" /><ref name="wedexappdocs-5478" /><ref name="wedexappgithub-5479" /><ref name="wedexapptwitter-5480" /><ref name="wedexapptwitter-5481" /><ref name="blockthreat-5482" /><ref name="certikorgtwitter-6069" /><ref name="certikcommunitytwitter-7821" /><ref name="certikcommunitytwitter-7822" />
	<ref name="certikorgtwitter-5470" /><ref name="bscscan-5471" /><ref name="certik-5472" /><ref name="certikorgtwitter-5473" /><ref name="bscscan-5474" /><ref name="youtube-5475" /><ref name="dappdotcom-5476" /><ref name="wedexapp-5477" /><ref name="wedexappdocs-5478" /><ref name="wedexappgithub-5479" /><ref name="wedexapptwitter-5480" /><ref name="wedexapptwitter-5481" /><ref name="blockthreat-5482" /><ref name="certikorgtwitter-6069" /><ref name="certikcommunitytwitter-7821" /><ref name="certikcommunitytwitter-7822" />

	== About WeDEX ==		== About WeDEX ==
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	!Description		!Description
	\|-		\|-
	\|October 18th, 2021 ~~12:00:00 AM~~		\|October 18th, 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 ==

Azoundria at 23:55, 27 February 2023

2023-02-27T23:55:57Z

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/wedexflashloanattack.php}} WeDEXThe WeDEX smart contract hot wallet was reportedly exploited for $100k. Shortly afterward, the team optained an audit. It's unclear if the team has done anything to compensate affected users. This is a global/international case not involving a specific country. == About WeDEX == "WeDEX is a decentralized exchange based on Ethereum. WeDEX a..."

2023-01-28T03:53:18Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/wedexflashloanattack.php}} thumb|WeDEXThe WeDEX smart contract hot wallet was reportedly exploited for $100k. Shortly afterward, the team optained an audit. It's unclear if the team has done anything to compensate affected users. This is a global/international case not involving a specific country. == About WeDEX == "WeDEX is a decentralized exchange based on Ethereum. WeDEX a..."

New page

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

[[File:Wedex.jpg|thumb|WeDEX]]The WeDEX smart contract hot wallet was reportedly exploited for $100k. Shortly afterward, the team optained an audit. It's unclear if the team has done anything to compensate affected users.

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

== About WeDEX ==
"WeDEX is a decentralized exchange based on Ethereum. WeDEX adopts the Loopring Protocol and Zkps technology, which greatly improves transaction speed and user experience on the premise of ensuring transaction security. WeDEX does not take any custody of user assets, each trade can be verified on the chain and the data is transparent in WeDEX. With on-chain data availability, the throughput is as high as 1400 trades per second. The user experience is comparable to centralized exchanges. Enjoy your crypto trading in WeDEX."

"WEDEX is the leading decentralized exchange on Binance Smart Chain, we bring the freedom and privacy for the user! Why pay more? WEDEX runs on Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum or Bitcoin. Trading fees are lower than other top decentralized exchanges too, so that's a double win for you! Trade directly from your wallet app. Unlike centralized exchanges like Binance or Coinbase, WEDEX doesn’t hold your funds when you trade: you have 100% ownership of your own crypto."

"On October 18, 2021" "#WEDEX suffered a flash loan assisted attack. The attacker was able to gain profit from deposit and emergencyWithdraw operation."

"WeDEX lost $100K after an attacker was able to continuously call emergencyWithdraw() function due to a misconfiguration." "The incident caused by the #WEDEX unique feature, users can receive commissions ($DEX) when deposit LP tokens to WedexChef if the pool’s locking period not 0."

"When the variable emergencyLockingWithdrawEnable is "TRUE", the attacker can trigger the function emergencyWithdraw() to withdraw tokens without any explicit restrictions."

"The attacker repeated the steps “deposit-emergencyWithdraw” to generate more commissions. Lastly, the attacker amplified the profit by borrowing flash loans to manipulate the DEX price."

"Hey there dear community members! WEDEX contract is audited and listed, check the report by link below and stay safe."

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 - WeDEX Flash Loan Attack
!Date
!Event
!Description
|-
|October 18th, 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 $100,000 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 ==
Which policies could have prevented this event from happening?

== References ==
[https://mobile.twitter.com/certikorg/status/1450124441007034377 https://mobile.twitter.com/certikorg/status/1450124441007034377] (Jan 10)

[https://bscscan.com/tx/0x85b1067d5940e79e1b54fc9a1efc09de1c2261f54dcdc8c126ead69a319c3ab5 https://bscscan.com/tx/0x85b1067d5940e79e1b54fc9a1efc09de1c2261f54dcdc8c126ead69a319c3ab5] (Jan 10)

[https://www.certik.com/skytrace/bsc:0x63d150d18f666b9340aa3e4266e75708d3b40234 CertiK Asset Tracing for Address bsc:0x63d150d18f666b9340aa3e4266e75708d3b40234] (Jan 10)

[https://twitter.com/certikorg/status/1450126980939137031 @certikorg Twitter] (Jan 10)

[https://bscscan.com/address/0x5296589ced165e9ef9e5ed92dd89d80a1a0c529f#code https://bscscan.com/address/0x5296589ced165e9ef9e5ed92dd89d80a1a0c529f#code] (Jan 10)

[https://www.youtube.com/watch?v=QIkS3nuRJRM Wedex Review - YouTube] (Jan 10)

[https://www.dapp.com/app/wedex https://www.dapp.com/app/wedex] (Jan 10)

[https://wedex.app/ Wedex] (Jan 10)

[https://docs.wedex.app/WedexIntro Wedex Intro - WEDEX] (Jan 10)

[https://github.com/wedexapp/Audit GitHub - wedexapp/Audit] (Jan 10)

[https://twitter.com/wedexApp/status/1456932833415421958 @wedexApp Twitter] (Jan 10)

[https://twitter.com/wedexApp/status/1449800241713086469 @wedexApp Twitter] (Jan 10)

[https://www.blockthreat.io/p/blockthreat-week-42-2021 No Title] (Jan 10)

[https://twitter.com/certikorg/status/1450138029104959488 @certikorg Twitter] (Jan 28)

[https://mobile.twitter.com/CertiKCommunity/status/1450130484986535937 https://mobile.twitter.com/CertiKCommunity/status/1450130484986535937] (May 30)

[https://mobile.twitter.com/CertiKCommunity/status/1450124441007034377 https://mobile.twitter.com/CertiKCommunity/status/1450124441007034377] (May 30)

← Older revision		Revision as of 17:55, 27 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/wedexflashloanattack.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/wedexflashloanattack.php}}
			{{Unattributed Sources}}

	[[File:Wedex.jpg\|thumb\|WeDEX]]The WeDEX smart contract hot wallet was reportedly exploited for $100k. Shortly afterward, the team optained an audit. It's unclear if the team has done anything to compensate affected users.		[[File:Wedex.jpg\|thumb\|WeDEX]]The WeDEX smart contract hot wallet was reportedly exploited for $100k. Shortly afterward, the team optained an audit. It's unclear if the team has done anything to compensate 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="certikorgtwitter-5470" /><ref name="bscscan-5471" /><ref name="certik-5472" /><ref name="certikorgtwitter-5473" /><ref name="bscscan-5474" /><ref name="youtube-5475" /><ref name="dappdotcom-5476" /><ref name="wedexapp-5477" /><ref name="wedexappdocs-5478" /><ref name="wedexappgithub-5479" /><ref name="wedexapptwitter-5480" /><ref name="wedexapptwitter-5481" /><ref name="blockthreat-5482" /><ref name="certikorgtwitter-6069" /><ref name="certikcommunitytwitter-7821" /><ref name="certikcommunitytwitter-7822" />

	== About WeDEX ==		== About WeDEX ==
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	== References ==		== References ==
	[https://mobile.twitter.com/certikorg/status/1450124441007034377 https://mobile.twitter.com/certikorg/status/1450124441007034377] (Jan 10)		<references><ref name="certikorgtwitter-5470">[https://mobile.twitter.com/certikorg/status/1450124441007034377 https://mobile.twitter.com/certikorg/status/1450124441007034377] (Jan 10, 2022)</ref>

	[https://bscscan.com/tx/0x85b1067d5940e79e1b54fc9a1efc09de1c2261f54dcdc8c126ead69a319c3ab5 https://bscscan.com/tx/0x85b1067d5940e79e1b54fc9a1efc09de1c2261f54dcdc8c126ead69a319c3ab5] (Jan 10)		<ref name="bscscan-5471">[https://bscscan.com/tx/0x85b1067d5940e79e1b54fc9a1efc09de1c2261f54dcdc8c126ead69a319c3ab5 https://bscscan.com/tx/0x85b1067d5940e79e1b54fc9a1efc09de1c2261f54dcdc8c126ead69a319c3ab5] (Jan 10, 2022)</ref>

	[https://www.certik.com/skytrace/bsc:0x63d150d18f666b9340aa3e4266e75708d3b40234 CertiK Asset Tracing for Address bsc:0x63d150d18f666b9340aa3e4266e75708d3b40234] (Jan 10)		<ref name="certik-5472">[https://www.certik.com/skytrace/bsc:0x63d150d18f666b9340aa3e4266e75708d3b40234 CertiK Asset Tracing for Address bsc:0x63d150d18f666b9340aa3e4266e75708d3b40234] (Jan 10, 2022)</ref>

	[https://twitter.com/certikorg/status/1450126980939137031 @certikorg Twitter] (Jan 10)		<ref name="certikorgtwitter-5473">[https://twitter.com/certikorg/status/1450126980939137031 @certikorg Twitter] (Jan 10, 2022)</ref>

	[https://bscscan.com/address/0x5296589ced165e9ef9e5ed92dd89d80a1a0c529f#code https://bscscan.com/address/0x5296589ced165e9ef9e5ed92dd89d80a1a0c529f#code] (Jan 10)		<ref name="bscscan-5474">[https://bscscan.com/address/0x5296589ced165e9ef9e5ed92dd89d80a1a0c529f#code https://bscscan.com/address/0x5296589ced165e9ef9e5ed92dd89d80a1a0c529f#code] (Jan 10, 2022)</ref>

	[https://www.youtube.com/watch?v=QIkS3nuRJRM Wedex Review - YouTube] (Jan 10)		<ref name="youtube-5475">[https://www.youtube.com/watch?v=QIkS3nuRJRM Wedex Review - YouTube] (Jan 10, 2022)</ref>

	[https://www.dapp.com/app/wedex https://www.dapp.com/app/wedex] (Jan 10)		<ref name="dappdotcom-5476">[https://www.dapp.com/app/wedex https://www.dapp.com/app/wedex] (Jan 10, 2022)</ref>

	[https://wedex.app/ Wedex] (Jan 10)		<ref name="wedexapp-5477">[https://wedex.app/ Wedex] (Jan 10, 2022)</ref>

	[https://docs.wedex.app/WedexIntro Wedex Intro - WEDEX] (Jan 10)		<ref name="wedexappdocs-5478">[https://docs.wedex.app/WedexIntro Wedex Intro - WEDEX] (Jan 10, 2022)</ref>

	[https://github.com/wedexapp/Audit GitHub - wedexapp/Audit] (Jan 10)		<ref name="wedexappgithub-5479">[https://github.com/wedexapp/Audit GitHub - wedexapp/Audit] (Jan 10, 2022)</ref>

	[https://twitter.com/wedexApp/status/1456932833415421958 @wedexApp Twitter] (Jan 10)		<ref name="wedexapptwitter-5480">[https://twitter.com/wedexApp/status/1456932833415421958 @wedexApp Twitter] (Jan 10, 2022)</ref>

	[https://twitter.com/wedexApp/status/1449800241713086469 @wedexApp Twitter] (Jan 10)		<ref name="wedexapptwitter-5481">[https://twitter.com/wedexApp/status/1449800241713086469 @wedexApp Twitter] (Jan 10, 2022)</ref>

	[https://www.blockthreat.io/p/blockthreat-week-42-2021 No Title] (Jan 10)		<ref name="blockthreat-5482">[https://www.blockthreat.io/p/blockthreat-week-42-2021 No Title] (Jan 10, 2022)</ref>

	[https://twitter.com/certikorg/status/1450138029104959488 @certikorg Twitter] (Jan 28)		<ref name="certikorgtwitter-6069">[https://twitter.com/certikorg/status/1450138029104959488 @certikorg Twitter] (Jan 28, 2022)</ref>

	[https://mobile.twitter.com/CertiKCommunity/status/1450130484986535937 https://mobile.twitter.com/CertiKCommunity/status/1450130484986535937] (May 30)		<ref name="certikcommunitytwitter-7821">[https://mobile.twitter.com/CertiKCommunity/status/1450130484986535937 https://mobile.twitter.com/CertiKCommunity/status/1450130484986535937] (May 30, 2022)</ref>

	[https://mobile.twitter.com/CertiKCommunity/status/1450124441007034377 https://mobile.twitter.com/CertiKCommunity/status/1450124441007034377] (May 30)		<ref name="certikcommunitytwitter-7822">[https://mobile.twitter.com/CertiKCommunity/status/1450124441007034377 https://mobile.twitter.com/CertiKCommunity/status/1450124441007034377] (May 30, 2022)</ref></references>