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+--- Thread: Tutorial Exploiting bugs in flash loan (DeFi protocols) (/Thread-Tutorial-Exploiting-bugs-in-flash-loan-DeFi-protocols)
Exploiting bugs in flash loan (DeFi protocols) - Limon555 - 04-11-2022
Salute, everyone.
In this post I will be talking about defi - crypto loans protocol, we will tell you how we created a methodology to exploit a vulnerable crypto loans platform.
From words to business
Flash loan is a technology to get a loan against crypto tokens, to get it the lender has to post collateral to ensure a secure transaction, but what if we try to bypass the system ?
After running diagnostics on providers like
Revealed content****, *******, *******, ********* we found out that the bug is applicable within a single transaction. Given the complexity of the implementation on the project ****** and the constant failures of the entire *** protocol,
Revealed content ************** was chosen as the target
Our target is a cryptocurrency lending platform, by how much they use complex algorithms to work for their platform - we managed to find their weaknesses !
During the attack we managed to get a loan of $ 20,000
We also managed to swap frozen tokens on blockchain wallet, through complex operations with mutually substitutable tokens in ETH network (erc-20).
At the moment we are conducting new experiments on the platform, we need people who are ready to work according to the already worked out manual - we will share the profit.
More details in TG @EnergDev
RE: Exploiting bugs in flash loan (DeFi protocols) - Request - 04-11-2022
This is not a tutorial, is missing parts, and is likely a scam.
If you expect people to take a post like this claiming you/"we" found such a serious vulnerability in a company providing such services, you should be able to provide more details, even vague ones as proof this is even viable. Would you be willing to post such a thing?