{"id":240493,"date":"2021-05-02T18:18:15","date_gmt":"2021-05-02T15:18:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/spartan-protocol-exploit-results-in-loss-of-30m\/"},"modified":"2021-05-02T18:18:15","modified_gmt":"2021-05-02T15:18:15","slug":"spartan-protocol-exploit-results-in-loss-of-30m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/spartan-protocol-exploit-results-in-loss-of-30m\/","title":{"rendered":"# Spartan Protocol exploit results in loss of $30M"},"content":{"rendered":"

“# Spartan Protocol exploit results in loss of $30M <\/strong>”
\n<\/p>\n

Spartan Protocol, a liquidity platform for synthetic assets on the Binance Smart Chain, was drained of $30 million in a coordinated attack on its liquidity pool late Saturday.\u00a0<\/p>\n

The exploit targeted a \u201cflawed liquidity share calculation\u201d in the SPARTA\/WBNB liquidity pool, which enabled the attacker to withdraw the funds, blockchain security company PeckShield explained<\/a>. The security expert continued:<\/p>\n

\u201cIn particular, the specific hack inflates the asset balance of the pool before burning the same amount of pool tokens to claim an unnecessarily large amount of underlying assets. The consequence of this attack results in more than $30M loss from the affected pool.\u201d<\/p><\/blockquote>\n

The nuts and bolts of the attack center around the manipulation of flash loans, which were used to inflate the balance of the pool before burning an equivalent amount of pool tokens. <\/p>\n

Spartan Protocol tweeted<\/a> about the exploit late Saturday, explaining that the \u201cAttacker used $61m in BNB to overcome the pools via […] as yet unknown economic exploit path to remove roughly $30m in funds from the pools.\u201d <\/p>\n

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What we know so far –
*Attacker used $61m in BNB to overcome the pools via a as yet unknown economic exploit path to remove roughly $30m in funds from the pools.<\/p>\n

Reach out if you can help identify and analyse the exploit.https:\/\/t.co\/aNTvdzKOeF<\/a><\/p>\n

CC @RektHQ<\/a> @samczsun<\/a> @bneiluj<\/a><\/p>\n

\u2014 Spartan Protocol (@SpartanProtocol) May 2, 2021<\/a><\/p><\/blockquote>\n