According to initial investigation, some versions of the Vyper compiler do not correctly implement the reentrancy guard, which prevents multiple functions from being executed at the same time by locking a contract. Reentrancy attacks can potentially drain all funds from a contract.
A number of decentralized finance projects were affected by the attack. Decentralized exchange Ellipsisthat a small number of stable pools with BNB were exploited using an old Vyper compiler. Alchemix also witnessed $13.6 million outflow, along with $11.4 million exploited on JPEGd’s. Certain type of Curve factory pool is encountering read-only reentrancy attack and causing a total loss of $11m(
Several stable pools on Curve Finance were exploited on July 30, with losses reaching $24 million. According to Vyper, its 0.2.15, 0.2.16, and 0.3.0 versions are vulnerable to malfunctioning reentrancy locks, leaving projects relying on these versions exposed to potential risks.
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