White hat hacker returns $300k gained from OlympusDAO exploit

Blockchain information steadfast Peckshield said that a hacker who exploited 30,437 OHM tokens (worth astir $300,000) from an Olympus DAO’s astute declaration earlier contiguous has returned the funds to the DAO successful 2 transactions.

According to Peckshield, the hacker exploited the contract’s “BondFixedExpiryTeller,” inability to validate the transportation petition properly. The steadfast continued, “the related OlympusDAO’s BondFixedExpiryTeller declaration has a redeem() relation that does not decently validate the input, resulting successful ~$292K loss.”

It seems the related @OlympusDAO's BondFixedExpiryTeller declaration has a redeem() relation that does not decently validate the input, resulting successful ~$292K loss. https://t.co/dkhC5Ex9sz https://t.co/ikidpLyBga pic.twitter.com/wu5tUrepS6

— PeckShield Inc. (@peckshield) October 21, 2022

The OlympusDAO squad confirmed the exploit connected its Discord channel, revealing that the attacker drained the funds from the OHM enslaved declaration with Bond Protocol. The protocol besides stated that the bug was not recovered by its auditors, and the attacker could person earned overmuch much if helium had reported it via Immunefi.

The squad continued that the implicit $200 cardinal staked connected its level were safe.

CryptoSlate did not get a effect to its petition for remark from OlympusDAO and Bond Protocol arsenic of property time.

Meanwhile, the Olympus assemblage has hailed the hacker for being a achromatic hat.

The station White chapeau hacker returns $300k gained from OlympusDAO exploit appeared archetypal connected CryptoSlate.