Forta Network
@forta
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 🔓
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Forta Network
@forta
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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Forta Network
@forta
Unfortunately, the storage misalignment made the contract behave as if it was uninitialized, allowing attackers to bypass admin access and withdraw funds 💸
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Forta Network
@forta
The hackers exploited Pike across Optimism, Arbitrum, and Ethereum mainnet 🌐 Forta detected the hack on EACH network BEFORE exploitation AND during the funding phase 🔮
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