Security incident · 2020-11-16
CheeseBank
According to the public DefiLlama incident dataset, CheeseBank (Ethereum) suffered a security incident on 2020-11-16, with about $3.3M reported lost.
| Date | 2020-11-16 |
|---|---|
| Reported loss | $3.3M |
| Chain | Ethereum |
| Target type | DeFi Protocol |
| Technique class | Oracle Manipulation |
| Technique | Spot Price Manipulation |
| Bridge incident | No |
| Within 2020 | #18 by loss that year, 0.1% of all reported losses that year |
How this kind of attack works
The price feed the protocol relied on was pushed off for a short time, and the attacker borrowed or swapped at the distorted price.
Would a pre-payment check have helped
Oracle manipulation is a price-feed design problem.
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- Venus Protocol2021-05-18 · $100.0M
- Bunny2021-05-19 · $45.0M
- Vee Finance2021-09-21 · $34.0M
- xToken2021-05-12 · $24.0M