Reaper Farm hack: SmartState overview

Key omissions which created the vulnerability

  1. Failure to perform the usual internal security audit after making changes;
  2. Lack of external smart contract audits;
  3. Lack of communication with the white-hat community, even though Reaper Farm had previously established a $200K bounty for bug finding.

Hack implementation

  1. User 0x5636e55e4a72299a0f194c001841e2ce75bb527a exploited the multi-strategies’ lack of validation and drained user funds into their wallet. This was done in a rapid series of transactions on the Fantom network, most notable being https://ftmscan.com/tx/0xc929f3b9312ff26be0adb1c3ff832dbdafdcbcaad33d002744effd515e53c9d5.
  2. This user’s funds were bridged from Binance Smart Chain using O3 Network’s cross-chain swap router. They received the BNB for this swap from Tornado cash, and https://tutela.xyz/ marks it as 100% anonymous.
  3. After the attack, the hacker bridged the funds to Ethereum to the following address: 0x2a038e100f8b85df21e4d44121bdbfe0c288a869. The funds were promptly sent to Tornado Cash for laundering.

Summary

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SmartState.tech

SmartState.tech

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SmartState is an independent audit company for DLT projects. It performs smart contract audit and security reviews and provides reco for improvements.