{"id":269492,"date":"2022-10-21T17:58:14","date_gmt":"2022-10-21T16:58:14","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=269492"},"modified":"2022-10-21T17:58:14","modified_gmt":"2022-10-21T16:58:14","slug":"white-hat-hacker-returns-300k-gained-from-olympusdao-exploit","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/white-hat-hacker-returns-300k-gained-from-olympusdao-exploit\/","title":{"rendered":"White hat hacker returns $300k gained from OlympusDAO exploit"},"content":{"rendered":"<p>Blockchain security firm Peckshield said that a hacker who <a href=\"https:\/\/etherscan.io\/tx\/0x3ed75df83d907412af874b7998d911fdf990704da87c2b1a8cf95ca5d21504cf\">exploited<\/a> 30,437 OHM tokens (worth roughly $300,000) from an Olympus DAO's smart contract earlier today has <a href=\"https:\/\/twitter.com\/peckshield\/status\/1583470179803049984?s=20&t=UJ5RmFgeh7VPN_7ZRStdRA\">returned<\/a> the funds to the DAO in two transactions.<\/p>\n<p>According to Peckshield, the hacker exploited the contract's &#8220;BondFixedExpiryTeller,\u201d inability to validate the transfer request properly. The firm continued, &#8220;<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">the related <\/span><span class=\"r-18u37iz\">OlympusDAO'<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">s BondFixedExpiryTeller contract has a redeem() function that does not properly validate the input, resulting in ~$292K loss.&#8221;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It seems  the related <a href=\"https:\/\/twitter.com\/OlympusDAO?ref_src=twsrc%5Etfw\">@OlympusDAO<\/a>&#39;s BondFixedExpiryTeller contract has a redeem() function that does not properly validate the input, resulting in  ~$292K loss. <a href=\"https:\/\/t.co\/dkhC5Ex9sz\">https:\/\/t.co\/dkhC5Ex9sz<\/a> <a href=\"https:\/\/t.co\/ikidpLyBga\">https:\/\/t.co\/ikidpLyBga<\/a> <a href=\"https:\/\/t.co\/wu5tUrepS6\">pic.twitter.com\/wu5tUrepS6<\/a><\/p>\n<p>&mdash; PeckShield Inc. (@peckshield) <a href=\"https:\/\/twitter.com\/peckshield\/status\/1583416829237526528?ref_src=twsrc%5Etfw\">October 21, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The OlympusDAO team confirmed the exploit on its Discord channel, revealing that the attacker drained the funds from the OHM bond contract with Bond Protocol. The protocol also stated that the bug was not found by its auditors, and the attacker could have earned much more if he had reported it via Immunefi.<\/p>\n<p>The team continued that the over $200 million <a href=\"https:\/\/app.olympusdao.finance\/#\/stake\">staked<\/a> on its platform were safe.<\/p>\n<p>CryptoSlate did not get a response to its request for comment from OlympusDAO and Bond Protocol as of press time.<\/p>\n<p>Meanwhile, the Olympus community has hailed the hacker for being a white hat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain security firm Peckshield said that a hacker who exploited 30,437 OHM tokens (worth roughly $300,000) from an Olympus DAO&#8217;s smart contract earlier today has returned the funds to the DAO in two transactions. According to Peckshield, the hacker exploited the contract&#8217;s &#8220;BondFixedExpiryTeller,\u201d inability to validate the transfer request properly. The firm continued, &#8220;the related [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":269527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16041],"tags":[78136,77683],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>White hat hacker returns $300k gained from OlympusDAO exploit<\/title>\n<meta name=\"description\" content=\"Peckshield revealed that a hacker exploited 30,437 OHM tokens (worth roughly $300,000) from an Olympus DAO&#039;s smart contract\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/white-hat-hacker-returns-300k-gained-from-olympusdao-exploit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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