On April 30th, a hack on @PikeFinance resulted in the loss of $1.6M 🚨

The exploit stemmed from an earlier USDC vulnerability and flawed contract upgrades. 

Forta detected the exploit before draining.  All funds could have been saved 🔓

Context: On April 26, a USDC vulnerability was reported in Pike Finance's Beta protocol. 

To mitigate, spoke contracts were upgraded, but this introduced new variables and misaligned storage mapping ❌

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Unfortunately, the storage misalignment made the contract behave as if it was uninitialized, allowing attackers to bypass admin access and withdraw funds 💸

The hackers exploited Pike across Optimism, Arbitrum, and Ethereum mainnet 🌐  

Forta detected the hack on EACH network BEFORE exploitation AND during the funding phase 🔮