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FatManTerra's profile
FatMan
FatMan
FatMan
@FatManTerra

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FatMan

@FatManTerra

FatMan from the Terra Research Forum I provide research, updates, and analysis on the Terra situation as it unfolds. Views are my own opinions.

fatmanterra.eth
Joined May 2022

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    1. FatMan‏ @FatManTerra May 26

      So - this bug exists and was quietly patched up - but we don't know if anyone ever noticed it or exploited it before. It would be hard to check since you would need to sift through months of chain data and millions of transactions - the Mirror forum didn't bother. (5/12)

      1 reply 9 retweets 145 likes
      Show this thread
    2. FatMan‏ @FatManTerra May 26

      Call it luck, magic, or God's will - whatever you believe in - a source fell into my lap inadvertently revealing that this attack had indeed been executed hundreds of times since 2021. Before today, this was not known by anyone at all. Let's go meet the attacker, shall we? (6/12)

      1 reply 14 retweets 183 likes
      Show this thread
    3. FatMan‏ @FatManTerra May 26

      I happened to look at a DM (I can only read a fraction of my DMs!) and almost binned it, but something in me told me to look into the address. The man was right - the address indeed had eerily perfect timing, almost as if they had word directly from TFL. Besides the point. (7/12)pic.twitter.com/U2mJk38ub5

      9 replies 25 retweets 223 likes
      Show this thread
    4. FatMan‏ @FatManTerra May 26

      Here is the address for your perusal. https://etherscan.io/address/0xdb886bf718fbf354eb4202b03ad13b1cafb01276 … I was able to map this address to a Terra wallet via bridge tracing, and it had some large and interesting transactions, so I decided to dig in. Here's the Terra wallet. https://finder.terra.money/mainnet/address/terra1200zm8crgjaj949ta8r7p6pay0qq638js4sdmh … (8/12)

      3 replies 10 retweets 145 likes
      Show this thread
    5. FatMan‏ @FatManTerra May 26

      Two coffees later, as I was about to give up, I found this. Hold on... What's going on here? A single transaction from October 2021 unlocking one position over and over again - and it actually executed. Here's the transaction: https://finder.terra.money/mainnet/tx/08DD2B70F6C2335D966342C20C1E495FD7A8872310B80BAF3450B942F79EBC1F … (9/12)pic.twitter.com/lklZHIYQqV

      16 replies 42 retweets 249 likes
      Show this thread
    6. FatMan‏ @FatManTerra May 26

      The lock contract didn't check that the funds were sent from the mint contract, so the attacker opened a position with $10 in collateral (!) and send $10k directly to the lock contract. They could then loop-unlock others' collateral over and over again from the contract. (10/12)

      1 reply 13 retweets 171 likes
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    7. FatMan‏ @FatManTerra May 26

      In one transaction, the attacker turned $10,000 into $4,300,000. This was actually done several times, generating a total of well over $30m. All of this went completely unnoticed by TFL and the Mirror team & community. This is the first time this attack has been revealed. (11/12)

      14 replies 58 retweets 380 likes
      Show this thread
    8. FatMan‏ @FatManTerra May 26

      And that's how with a little bit of luck and a lot of research, I found out about one of the greatest yet most simple smart contract exploits in blockchain history that went under the radar for almost a year. Who did this? I have no idea, but I'll try to find out. (12/12)

      11 replies 24 retweets 327 likes
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    10. swango.eth‏ @SwangoTrader May 26
      Replying to @FatManTerra

      I like that you felt the need to tell us that you and your team are hard.

      1 reply 0 retweets 1 like
      FatMan‏ @FatManTerra May 26
      Replying to @SwangoTrader

      Please, let's pretend that typo never happened

      5:21 PM - 26 May 2022
      • 7 Likes
      • Gepard Ezkiel jmo 🌱 Princess P swango.eth Psycho Train Lady luck🍀🍀🍀
      2 replies 0 retweets 7 likes

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