Hacker drains Olympus DAO's smart contract of $300,000
The affected contract, known as “BondFixedExpiryTeller,” was used to open bonds denominated in the Olympus DAO’s OHM tokens. The contract lacked a validation input in the “redeem() function,” which allowed the attacker to trick input values to redeem funds, PeckShield said.
Yet again, this is an exploit of a poor "smart" contract - not a hack, as such.
Hopefully, the smart contract coders will learn to make such contracts more robust - and less naive. In any protocol that is fully automated, checking - and double-checking - the validity of data and transactions must surely be near the top of any stress-testing procedures!
Olympus DAO Hacked for 30,000 OHM Worth $300,000, Perpetrator Returns Funds Within Hours
lucky! whitehat
and without any ransom!