brypto

An attacker compromised the Amps contract 12 hours ago, stealing ~$6,700 USDC from 112 Amps users. 

@phil and the Amps team fixed the issue and refunded users. @horsefacts and the Farcaster team have been assisting. Farcaster wallets are safe and unaffected.

Who was affected?

Users who gave Amps an allowance to withdraw USDC from their wallet to purchase likes and recasts were affected.

Users who simply used Amps to receive funds for likes and recasts are unaffected. Users who did not use Amps are unaffected.

What happened?

The Amps team will publish a detailed report soon.  In short, their contract had a vulnerability and the attacker was able to withdraw USDC that the users have given Amps permission to withdraw. 

Some users gave Amps the permission to withdraw all USDC from their wallet, and the attacker was able to withdraw all USDC. 

Are Farcaster wallets unsafe?

No, Farcaster wallets remain safe to use. The exploit is entirely within the Amps contract and only affects users who explicitly gave Amps the permission to access their USDC.

What should I do to be safe?

Never give permissions to withdraw unlimited funds (as a user) and never ask for these permissions (as a dev). It is safer to ask user to transfer in a fixed amount (e.g. 100 USDC), and top up as needed.

let me re-phrase that for you:

the authors/owners of the Amps contract didn't properly review or audit their contract for security.

their mistake cost users a bunch of money, but they aren't owning up to responsibility for the incident: they left the doors to your money unlocked, and the attackers walked in and took it.

the attackers didn't create the vulnerability, they merely took advantage of it.

being extremely clear about these things is important to our industry. absolutely vital, in fact, because the so-called "leaders" WANT you to be confused about who to trust.

don't be.

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