The weak point remained an-chain for 8 months

The weak point remained an-chain for 8 months

Omniscia, Euler Finance's auditing partner, has published a post-mortem report about the fact that the weak point, which was exploited by the malicious hackers, came from the wrong donation mechanism of the decentralized financial credit protocol, which did not take into account the debt health of the donor.

The susceptible code introduced in EIP-14 led to several changes in the entire Euler ecosystem. This made it possible for the attacker to create an excessive levered position and to liquidate it in the same block by artificially "under water", the company said in an explanation.

• The function in the center of the weak point was not the subject of an exam carried out by Omiscia.
• An external audit was responsible for checking the susceptible code, which was later approved.
• The vulnerability was not discovered in the context of this audit and stayed in the chain for eight months until it was exploited on March 13, despite a bug premium of $ 1 million.
• The incorrect Etoken module was deactivated to prevent deposits and the susceptible donation function.
• After the attack, the Defi protocol revealed the collaboration with various security groups to carry out audits and also tapped law enforcement authorities to recalculate funds.

"We are destroyed by the effects of this attack on the user of the Euler Protocol and will continue to work with our security partners, the law enforcement authorities and the wider community in order to solve the problem as much as possible. Thank you for your support and encouragement."

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