{"id":44798,"date":"2023-02-03T18:25:44","date_gmt":"2023-02-03T22:25:44","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=44798"},"modified":"2023-02-03T18:25:48","modified_gmt":"2023-02-03T22:25:48","slug":"orion-protocol-suffers-3m-hack-on-core-smart-contract","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/orion-protocol-suffers-3m-hack-on-core-smart-contract\/","title":{"rendered":"Orion Protocol Suffers $3M Hack On Core Smart Contract"},"content":{"rendered":"\n
Decentralized exchange platform Orion Protocol<\/a> was hacked, suffering a loss of $3 million due to a reentrancy issue in its core contract.<\/h5>\n\n\n\n
\"Orion
Orion Protocol Suffers $3M Hack On Core Smart Contract<\/figcaption><\/figure>\n\n\n\n

Orion Protocol, a decentralized exchange platform, was the victim of a $3 million hack as a result of reentrancy problems from outside libraries. Users can access liquidity pools on both centralized and decentralized exchanges\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> directly from their non-custodial wallet thanks to the Orion protocol.<\/p>\n\n\n\n

However, a hacker was able to take over the protocol due to an imperfect reentrancy issue and steal nearly $3 million, according to a report published on January 3 by the securities firm Peckshield.<\/p>\n\n\n\n

The contract was made vulnerable to the exploit when the hacker repeatedly invoked the “depositAsset” method. Tornado Cash provided the first 0.4BNB to Orion, and SimpleSwap provided the last 0.4ETH.<\/p>\n\n\n\n

The hacker locked up roughly 657 ETH in his wallet address before attempting to extract about 1100 ETH using Tornado Cash<\/a>. In a Twitter conversation, the CEO of Orion Protocol, Alexey Koloskov, acknowledged the attack and claimed that a flaw in one of the external libraries that Orion used during development was to blame.<\/p>\n\n\n\n

Koloskov asserted that all user monies are secure and that the stolen money actually came from Orion's Treasury.<\/p>\n\n\n\n

\n

\u201cWe want to reassure our users that no user experienced any loss during this incident. The assets at risk were in internal broker\u2019s accounts run by ourselves-the Orion team.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Koloskov stated that the Orion team will give priority to creating all of its contracts internally in order to avoid potential vulnerabilities from third-party libraries.<\/p>\n","protected":false},"excerpt":{"rendered":"

Decentralized exchange platform Orion Protocol was hacked, suffering a loss of $3 million due to a reentrancy issue in its core contract. Orion Protocol, a decentralized exchange platform, was the victim of a $3 million hack as a result of reentrancy problems from outside libraries. Users can access liquidity pools on both centralized and decentralized […]<\/p>\n","protected":false},"author":43,"featured_media":44800,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[12665,13241],"class_list":["post-44798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-decentralized","tag-orion-protocol"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/02\/croc_1675461222877.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=44798"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/44800"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=44798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=44798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=44798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}