According to Euler's separate reports in Twitter, the spread of lightning loan attacks on Euler on March 13th has already spread indiscriminately, resulting in the freezing or loss of accounts in 11 different decentralized finance (Defi) agreements. The balancing device, a total of more than $1 billion in Ethernet Fong agreements, is one of the agreements affected. The following is an overview of key system vulnerabilities and what we are now familiar with.

Balancing device

Balancer reported on March 13th that Euler Boost managers. (BB-e-U.S.) The pool has been affected by this system vulnerability. During the leak period of the application system, about $11.9 million worth of dynamic passwords in the pool were sent to Euler. The balancing device emergency sub-DAO response is to stop the pool and place it in dfu mode. However, more than 65% of the pool TVL was already lost at the time of termination.

The liquidity service provider is unable to find the remaining assets in the pool because of incorrect UI of the application. However, Balancer indicated that a new interface would be given "in the near future" to allow acquisition of the remaining assets. Balancer responded that no other pools were affected.

ANGE protocol

The Protocol of Angels released an initial report on its attack. If it loses the use of coins worth more than $17 million (USDC). This may cause the age-stable currency associated with Europe to become increasingly inadequate in loan guarantees. The team is still investigating and trying to compile a detailed balance sheet. The team shows that forging and redemption have stopped at most ages, but lenders are still able to repay the agreed debt.

Idle without using the financial industry

Idle Finance brings a detailed breakdown of the damage caused by Euler system vulnerabilities. Based on the prices of ETH and euros on March 13th, it seems to have lost about $5.9 million worth of tokens. The team has already stopped all Euler-related Best Year vaults and part of the rate of return to avoid further losses.

Looking forward to the financial industry

According to DefiLlama, Yearn.Finance has more than $423 million in assets in TVL. It reports indirect openness to Euler in accordance with the Angel Agreement and idle finance. We've lost about $1.38 million. However, the team shows that Idle and Angel do not cover all losses on bad debts and will be covered by the coveted Ministry of Finance.

Compromise agreement

The Year protocol is another protocol affected by the attack. According to the team's latest statement on this attack, its "main online working capital pool is established under the premise of Euler White Cat." The company has shut down the main online application, stopped lending, and is dealing with the attack. Its main working capital pool seems to have been affected and is likely to lose "less than $1.5 million".

The opposite direction of financial industry

InverseFinance reported that it was also hit hard, losing more than $860000 in its Dola Fed for Dola-BB-e-U.S.on Balancer. The team indicated that they were communicating with Balancer to try to return the asset to depositors.

Related to:Euler Finance was hacked over $195 million in a lightning loan attack.

Germany and Switzerland Borg

SwissBorg reported that "a small portion of its intelligent profitability scheme has been affected". However, "because of our own risk management process, the level of injury is almost zero." The team indicated that he would pay for all the losses in his fund and that his clients "would not easily suffer all losses as a result of this incident".

In a message exchange with Cointelegraph, Cyrus Fasel, founder of SwissBorg, responded that the agreement ranked profit strategies based on risk, timing and APY. Because Euler was chosen as Adventure 2-Adventure, SwissBorg customers' investment in Euler projects is "relatively limited". He explained that this mitigated the loss of the protocol.

Other affected agreements

Opyn, Means, Sense and Safest also reported that they may have been affected by the attack, although they did not give small details of the amount of damage. It also brings the number of agreements affected to more than 11, resulting in a total loss of $37.6 million.

Euler Finance is a data encryption loan protocol that runs on Ethernet Square. It tends to rise, in part because it applies liquidity betting derivatives such as Coinbase STAKED ETH (CbETH) or Lido STAKED ETH (Steth) as collateral for loans. On March 8, Euler White Cat confirmed more than $311 million in the login password in the smart contract. Since the use of system vulnerabilities, its TVL has dropped to $10.37 million.

This article reported that it had been changed at 02:11 on March 14, to reflect the lightning loan attack on March 13.