Security incident · 2023-05-07
Art Coin
According to the public DefiLlama incident dataset, Art Coin (Ethereum) suffered a security incident on 2023-05-07, with about $331K reported lost.
| Date | 2023-05-07 |
|---|---|
| Reported loss | $331K |
| Chain | Ethereum |
| Target type | DeFi Protocol |
| Technique class | Protocol Logic |
| Technique | Deposit Logic Flaw |
| Bridge incident | No |
| Within 2023 | #121 by loss that year, 0.0% of all reported losses that year |
How this kind of attack works
The protocol's own rules had a flaw, for example in how rewards, liquidations or swaps were calculated, and the attacker followed those rules to drain funds.
Would a pre-payment check have helped
Protocol logic flaws call for audits and formal verification.
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- MonoX2021-11-30 · $31.4M
- Popsicle Finance2021-08-03 · $20.7M
- BearnFi2021-05-17 · $18.0M
- Abracadabra Spell2025-03-25 · $13.0M
- Saddle Finance2022-04-30 · $11.0M