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How Onyx's Governance and Vulnerability Became Hackers' Golden Shovels

On Nov 1, 2023, our MetaScout [detected](https://x.com/MetaTrustAlert/status/1719660132240691257?s=20) that the lending protocol, @OnyxProtocol on Ethereum, was under a flash loan attack with a loss of $2.1M. The root causes are the proposal of adding a new market that was first executed by the hacker, and the precision loss issue of the compound-fork protocol. Here is a detailed exploit analysis by MetaTrust Labs to uncover how this all happened.

Daniel Tan
4 months ago
Analysis