rekt.news can clarify that the $11 million that was stolen, is definitely not safe.
The funds were taken from the protocol’s sUSDv2 metapool in which Synthetix’ sUSD is paired with saddleUSD-V2 LP tokens (from the DAI, USDC, USDT pool).
The exploit was possible due to a bug in an old version of the MetaSwapUtils library which doesn’t use a VirturalPrice to calculate the value of the LP token during metapool swaps.
The issue had been fixed in the current version, but the swap calculation was still using the old version.
The hacker made a series of flash loan assisted sUSD/saddleUSD-V2 swaps in the metapool, manipulating the price of the LP token which could then be swapped back for more sUSD.
Main hack tx for (3375 ETH): 0x2b023d…
Second hack tx (for 557 ETH): 0xe7e047…
Though funds have begun to move through Tornado Cash, at the time of writing, the majority remains in the exploiter’s address.
In November of last year, Saddle published a report on the vulnerability after a $8.2M near-miss for Synapse protocol who were using some Saddle code.
BSC-based nerve.fi were also hit via the same attack vector.
The resulting fix to the MetaSwapUtils library was made in December but, apparently, the code wasn’t implemented into metapool swaps properly.
Saddle forking Curve: if it ain’t broke don’t fix it.
Saddle not implementing their own fix: if it ain't fixed don't use it.
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