The DeFi platform WOOFi on Arbitrum was exploited for approximately $8.75 million due to a price manipulation attack on its WooPPV2 contract. The attacker flashloaned a significant amount of $USDC.e and $Woo tokens, which were then swapped back and forth to exploit a flaw in the contract's price calculation. The contract was paused to prevent further action. The exploit was quickly identified, and measures were taken to contain the threat within 13 minutes, marking all other WOO contracts as safe. In response to the incident, WOOFi has offered a bounty for information leading to the resolution of the exploit. This event is part of a larger trend of cryptocurrency hacks, with over $360 million stolen in February alone.
UPDATE: DEFI PLATFORM @_WOOFI REPORTEDLY EXPLOITED FOR $8.75M IN #CRYPTOCURRENCIES
#PeckShieldAlert #Teneo #3AC Liquidator - labeled address has transferred 34.75K $USDC to a new address 0xc41ff...713c https://t.co/DPh1shs6AB
#PeckShieldAlert #Teneo #3AC Liquidator - labeled address has transferred 34K $USDC to a new address 0xc41ff...713c https://t.co/kJ6kGcv0PK
The WOOFi development team has acknowledged an exploit of its swap contract on Arbitrum while assuring users that all other WOO contracts remain safe https://t.co/KgIjDL0WK4
On March 5, Wootrade's @_WOOFi WooPPV2 contract was targeted by malicious actors and got away with 💰$8.5M worth of crypto assets on #Arbitrum chain. The cause of the exploit is a price manipulation attack. The price calculation in the WooPPV2 contract was flawed. The hacker… https://t.co/jiOZ9vyutV
WOOFi offers bounty after $8.75 million exploit on Arbitrum https://t.co/t6azlthyNk
Heads up, frens! Looks like @_WOOFi on Arbitrum was targeted by a hacker. They manipulated the price and made off with ~$8.5M. Here's the breakdown: - The attacker used a flash loan to get a bunch of $USDC.e and $Woo. - Then, they kept swapping these tokens back and forth… https://t.co/FQpcfWKP7q
#Peckshield: #Cryptocurrency Hackers Stole Over $360 Million in February https://t.co/AcFdvSLrt4
🚨@_WOOFi on Arbitrum was under a price manipulation attack with a loss of ~$8.5M. The contract has been paused. The hacker flashloaned $USDC.e and $Woo, and then performed frequent token swaps. Due to a flawed price calculation in WooPPV2 contract, the hacker was able to… https://t.co/skCPpyPPU1 https://t.co/ocA6ceQnSo
#PeckShieldAlert #Liquidation An address 0x9fea...449d has been liquidated 534.24 $WETH (worth ~$1.21M) after $ETH dipped to $3,200 https://t.co/JKOQBJ48mT
Earlier today we identified an exploit of WOOFi Swap on Arbitrum. Within 13 minutes, the threat had been contained and we marked all other WOO contracts as safe. Linked below is a post-mortem detailing today’s events. (1/6) https://t.co/igDaOMgyCP
Wootrade's WooPPV2 contract was exploited and Forta could have saved 2/3 of all funds lost ($4.8M+) 🤯 https://t.co/NA2rP2x2R0
🚨It seems that @WOO_ecosystem has been exploited for approximately $8 million Stay tuned for more details in the thread below 🧵...
Wootrade was exploited for $8.5M today. Guess who did the audit. Shocker. Certik strikes again. https://t.co/GQhEfqgWvR
#PeckShieldAlert @_WOOFi has been exploited for ~$8m. The exploiter 0x9961...81c4 has transferred ~2K $ETH to 0xb59d...29Ad https://t.co/eIPn0iaPyL https://t.co/FcHDmuZOaL https://t.co/yGEPjZQrqY
#PeckShieldAlert: @WOO_ecosystem has been exploited for ~$8m. The exploiter 0x9961...81c4 has transferred ~2K $ETH to 0xb59d...29Ad https://t.co/eIPn0iaPyL https://t.co/FIV0oZ9ToF
The Silo protocol is safe and functioning correctly. It seems that WOO PPV contract 👇 was exploited, and the hacker used the WOO silo as part of the attack. https://t.co/5vcACSIn79 We paused all Arbitrum markets once we detected the issue, and we are unpausing them shortly… https://t.co/JCurR2IGHN
Wootrade's WooPPV2 contract exploited for a total attacker haul of 8.5m on arbitrum. It is now paused, so no further action is needed. (Deleted the previous post because it was spreading misinfo. I regret the error) https://t.co/BJCLTeKEYu
Wootrade's WooPPV2 contract exploited for a total attacker haul of 9m on arbitrum. It is now paused, so no further action is needed. (Deleted the previous post because it was spreading misinfo. I regret the error) https://t.co/W67ZexJ6Zb
Looks like @SiloFinance wootrade silo on arbitrum has been drained for ~$3.5m https://t.co/0IqNcrvy7A
#PeckShieldAlert #Tether has blacklisted the following addresses: 0x44c9503188827034377353a9f6d876eea15933c9 (Balance: 20.01M $USDT) 0xc20dcb6c4fec2516e21cf52648177721e2744988 (Balance: 500K $USDT) 0xc0c9baf6bb9b932eef4a60267aa8c530af5cb62c (Balance: 500K $USDT)… https://t.co/B0FnthgBjt
#PeckShieldAlert #JustinSun 4 -labeled address has transferrred 15B $SHIB (worth $610.5K) to #Poloniex https://t.co/YE9JHiyeK7
#PeckShieldAlert #Abracadabra.Money Exploiter 2 - labeled address has transferred 300 $ETH (~$1.17m) to intermediary address 0x3528...cEA0, and has been subsequently transferred to #tornadocash https://t.co/Z1sHrCC9bw
#PeckShieldAlert #phishing @sherlockdefi X compromised. sherlock-defi[.]com/claim is a phishing site. Please do *NOT* click on any links until the official team provides further notification. https://t.co/0TkbYRvzkW
#PeckShieldAlert #vitalik.eth - labeled address has transferred 30 $ETH to #Railgun and swapped ~27.63 $ETH for 100K $USDC, bridging them to #Base https://t.co/Iatt1AmjHI
#PeckShieldAlert #Liquidation An address 0x4bbc...27b1 has been liquidated 191.67M $cDAI(worth ~$4.37M) after $ETH surged over $3,600 https://t.co/TTZSqrhBEZ