@nog74943
Decentralized Finance protocol iVest Finance was the victim of a $156,000 exploit on Aug. 12, according to a report from blockchain security firm QuillAudits.
Transferring tokens to a null address (0x0) usually causes them to be lost forever. However, in the iVest protocol, transfers to the null address cause a _MakeDonation function to be called, which in turn causes “the sender’s balance [to be] incorrectly reduced by double the intended amount,” QuillAudits reported. The attacker repeated these steps over and over again, successfully draining over $156,000 worth of BNB and iVest tokens from the pool, most of which had been deposited by other users.
Quill stated that it would provide more updates as information becomes available.
On its website, iVest describes itself as a project that combines “SocialFi and DAO governance with unique tokenomics to support our members and create thriving community projects.”
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