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DeFi Pulse πŸ‡
1/ ⚠️ Mini-thread on the Fulcrum situation ⚠️ TLDR: - took Fulcrum down for maintainence late last night - Shortly after, team member Kyle Kistner disclosed that an exploit caused the loss of a portion of Fulcrum's ETH - Fulcrum contract is frozen, remaining funds are safe
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DeFi Pulse πŸ‡ Feb 15
Replying to @defipulse
2/ Full details and bZx's post-mortem have not been released yet. However, the community believes this tx was the inciting tx: - A complex single-transaction exploit utilizing a 10k ETH flash loan from dYdX, half placed into Compound and half into Fulcrum
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DeFi Pulse πŸ‡ Feb 15
Replying to @defipulse
3/ - The 5k ETH deposited into Compound was used to borrow 112 WBTC - The other 5k ETH was used as collateral to short WBTC on Fulcrum - The 112 WBTC were then sold on Uniswap to push the price down - Fulcrum WBTC short is cashed out at a profit and dYdX flash loan is paid back
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DeFi Pulse πŸ‡ Feb 15
Replying to @defipulse
4/ Currently, Fulcrum trading remains frozen. However, bZx lending and unlending is still operational as mentioned above. Judging by the time and the total ETH locked in bZx, ~$350,000 in ETH may have been lost Granted, this is speculation and the official details will follow.
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DeFi Pulse πŸ‡ Feb 15
Replying to @bZxHQ
5/ It's important to remember to remain calm and keep your wits about you in situations like this. Small update from bZx's telegram below. It's been confirmed that iETH was the only iToken affected. Keep your eye out for the short explanation to follow on 's twitter.
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DeFi Pulse πŸ‡ Feb 17
Replying to @bZxHQ
6/ UPDATE: Fulcrum is back online with a fix. Correcting earlier report: ETH was shorted in favor of WBTC (i.e., sETHwBTCx5) For further analysis, check this out Official word coming from at 5pm MST on Today Feb 17th, 2020
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DeFi Pulse πŸ‡ Feb 17
Replying to @bZxHQ @peckshield
7/ UPDATE: thorough analysis ....
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DeFi Pulse πŸ‡ Feb 17
Replying to @bZxHQ
8/ ... and post-mortem from
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DeFi Pulse πŸ‡ Feb 18
Replying to @bZxHQ
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DeFi Pulse πŸ‡ Feb 18
Replying to @bZxHQ
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Jack Feb 15
I longed Eth x3 is that contract safe or?
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bZx - Fulcrum & Torque Feb 15
Safe.
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