Hackers strike once more this week, this time on the expense of an obtainable exploit inside Temple DAO’s code. Temple’s “STAX Finance” protocol, which offered a liquidity pool of TEMPLE and FRAX tokens was exploited early Tuesday, leading to $2.3M value of tokens seized by the hacker.
Let’s take a look at what we all know within the early hours of the exploit.
Down Goes The Temple
The protocol suffered a vulnerability within the staking ‘migrateStake’ perform, in line with blockchain auditors Paladin. The exploit was first referred to as out by Spreek on Twitter. Arguably probably the most weird a part of the entire thing is that the funds have been probably obtainable for the taking for a while. Based on respected dev 0xfoobar, the funds have been “obtainable on chain for months,” leaving fairly a bit to be desired from all events concerned.
Temple DAO was seemingly unaudited, because the good contract code right here didn’t match the invoice of a multi-million greenback liquidity pool; because the aforementioned assets name out, the exploit was surprisingly straightforward. The exploiter merely used an previous staking name code and a faux handle to withdraw the LP funds. The vulnerability was obtainable to be taken benefit of for a number of months.
The Temple DAO's exploiter swapped LP tokens for ETH funds on their means out. | Supply: ETH-USD on TradingView.com
The Exploits Proceed
Sleuths have already found that the exploiter’s pockets was funded from a Binance pockets, so it’s fairly attainable that Binance appears into monitoring down that pockets (STAX has suggested that they’re “following up with Binance and can initialize a white hat bounty for the exploiter”). In any other case, this latest exploit is simply one other one to chunk the mud, sadly.
Nonetheless, it’s removed from the ‘nail within the coffin’ for the lesser-known Temple DAO. Based on DefiLlama, the DAO has a complete worth locked (TVL) simply shy of $60M – so it ought to stay to see one other day.
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