Security incident · 2021-08-04
WaultSwap
According to the public DefiLlama incident dataset, WaultSwap (Binance Smart Chain) suffered a security incident on 2021-08-04, with about $930K reported lost.
| Date | 2021-08-04 |
|---|---|
| Reported loss | $930K |
| Chain | Binance Smart Chain |
| Target type | DeFi Protocol |
| Technique class | Market Manipulation |
| Technique | Risk Parameter Abuse |
| Bridge incident | No |
| Within 2021 | #89 by loss that year, 0.0% of all reported losses that year |
How this kind of attack works
The attacker moved prices in a thin market and profited from protocols that relied on those prices.
Would a pre-payment check have helped
Market manipulation is a liquidity and market-design problem.
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