My Farm Pet Flash Loan Exploit
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MyFarmPet is a small virtual farm game which was attacked through a flash loan, giving a profit over $30k. The attack was not mentioned on the project Twitter page and they don't have a blog, however the price drop is highly visible on the price history. It is unknown the exact details of the exploit or if any compensation was provided to affected users.
This is a global/international case not involving a specific country. [1][2][3][4]
About My Farm Pet
"A complete metaverse of virtual farms and builder games on Binance smart Chain." "My farm pet is a blockchain farming game, where anyone can buy and own virtual farms, Farm pets, and meet new friends. Farming investment and rewards calculator."
"The game combines the best of the two worlds - a fun narrative for regular game lovers who want to enjoy the gameplay experience as well as an ecosystem for farmers who want to collect and trade farm pets and egg Non-Fungible Tokens (NFTs). My farm pet is not just a game for blockchain players but it is a game that could introduce blockchain to millions of players. An open-world 3D game with a strong visual identity based on positive images and cuteness intended for both skilled and Unskilled blockchain players."
"My Farm Pet was suspected of being attacked by lightning loans, and today fell 79.86%."
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.
| Date | Event | Description |
|---|---|---|
| October 6th, 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 $31,000 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
- ↑ SlowMist Hacked - SlowMist Zone (Nov 6, 2021)
- ↑ My Farming Pet (Dec 17, 2021)
- ↑ https://myfarmpet.io/MyFarmPetWhitepaper.pdf (Dec 17, 2021)
- ↑ My Farm Pet (MYFARMPET) price today, chart, market cap & news | CoinGecko (Dec 17, 2021)