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24 November 2020

How YFI competitor Pickle Finance was exploited for $20m in Ethereum stablecoins | CryptoSlate

How YFI competitor Pickle Finance was exploited for $20m in Ethereum stablecoins | CryptoSlate


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Pickle Finance was launched in the midst of the foodcoin craze of the summer, during which developers were releasing both absurd food projects and cool projects with food branding (Yam, for instance).

It was quickly posited that it was an attack: the user who made this suspicious transaction had nothing to do with the Pickle Finance Deployer, and also funded their account with 10 ETH from Tornado Cash, a mixer that obfuscates the origins of Ethereum.

Smart contract engineer Emiliano Bonassi explained that what the attacker did is deploy an evil Jar that looked like the original one, then swapped the funds in the original Pickle Finance Jar into their own.

Pickle Finance developers have advised all users to withdraw funds for the time being, as there are fears that the exploit is repeatable with the millions left on the platform.

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