How Did Lendf.Me Lose $25 Million to A Reentrancy Attack? [An Analysis]

Written by Valid.Network | Published 2020/04/26
Tech Story Tags: smart-contract-security | ethereum | defi | blockchain | cybersecurity | hackernoon-top-story | good-company | reentrancy-attack-explained

TLDR Lendf.me is a DeFi app utilizing smart contracts in order to provide instant, decentralized lending. The platform suffered an attack causing the loss of $25m in cryptocurrency on the day of April 19, 2020. The attack took place on the Ethereum main-net smart contract named MoneyMarket. The main purpose of the MoneyMarket.supply() function is to handle token deposits. After the external call the function is updating the user’s deposited balance (lines 1599–1600)via the TL;DR App
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Written by Valid.Network | Leaders in Blockchain cybersecurity.
Published by HackerNoon on 2020/04/26
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