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Jun 21

A Walk Through Ethereum's Dark Forest

IntroThere’s a bug in Wild Credit’s code, and 10 million dollars of user funds are at risk. It takes just 46 hours for someone to realize that the “initialize” function is public. Anyone can claim ownership of the smart contract. An attacker abuses this owner privilege to mint tokens and drain the pool of all its Bancor. But their transaction fails. Mere milliseconds after submitting this transaction, a bot noticed and copied it, sniping 600 thousand dollars before the original attacker could...

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