In the vast domains of Ethereum‘s decentralized landscape, where ambition often dances with folly, the audacious protocol SIR.trading—dubbed Synthetics Implemented Right—met an untimely demise on the fateful day of March 30. Like a magician’s rabbit vaporized into thin air, its $355,000 in total value locked vanished without a trace!
Enter TenArmor, the gallant sentinel of blockchain security, who chronicled this calamity in a dramatic post on X. They uncovered a series of transactions so peculiar they could rival any twist in a well-penned novel. Alas, the stolen treasure found refuge in RailGun, a shadowy bastion that cunningly veils the trail of digital mischief. 🧐
As the dust settled, another security oracle, Decurity, unveiled that the miscreant had manipulated a flaw nestled within SIR.trading’s Vault contract. They pinpointed what they termed a “clever attack.” Oh, how can one not admire the audacity! 😂
Synthetics Implemented Right @leveragesir has been hacked for $355k
This is a clever attack. In the vulnerable contract Vault () there is an uniswapV3SwapCallback function that uses transient storage to verify the caller. Specifically, it loads an address…
— Decurity (@DecurityHQ) March 30, 2025
In an additional thrilling exposition, blockchain researcher Yi elucidated the gaping vulnerability stemming from the contract’s flawed verification method. Traditionally, it ought to have embraced transactions from a Uniswap (UNI) pool or other reputable sources. But alas! This mercurial contract, dancing to the tune of transient storage introduced in Ethereum’s EIP-1153, opened the floodgates to chaos.
Herein lay the conundrum: transient storage, with its whimsical nature, resets only post-transaction, allowing our slippery hacker to exploit the system while it was still in motion. They cleverly coaxed the contract into trusting a mirage, a phantom address crafted with equal parts ingenuity and mischief.
.@leveragesir got hacked just now for $354k due to a clever exploit targeting transient storage in a Vault contract’s uniswapV3SwapCallback. I think this is a groundbreaking case—How did it happen? What was the root cause? Now disappear into the darkness. 🧵👇
— Yi (@SuplabsYi) March 30, 2025
With the deftness of an artist, the hacker brute-forced a unique vanity address, successfully deluding the contract into accepting them as above board. The caper culminated with a clever custom contract siphoning away every last drop of SIR.trading’s vault.
Xatarrer, the elusive architect behind SIR.trading, was forced to confront the dismal reality. They lamented, calling this theft “the worst news a protocol could receive.” Yet, amidst the ruins, there lay a spark of hope—they solicited the community’s wisdom, yearning to rebuild from this abyss, even as shadows loomed large.
This incident stands poised as a poignant chapter in the annals of blockchain history; an inaugural foray of hackers wielding new Ethereum capabilities. Experts caution that unless developers fashion robust defenses, the whispers of similar debacles may echo through the corridors of time. 🕵️♂️
Read More
- Ludus promo codes (April 2025)
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- ZEREBRO PREDICTION. ZEREBRO cryptocurrency
- Grimguard Tactics tier list – Ranking the main classes
- DEEP PREDICTION. DEEP cryptocurrency
- Maiden Academy tier list
- Seven Deadly Sins Idle tier list and a reroll guide
- Mini Heroes Magic Throne tier list
- Fortress Saga tier list – Ranking every hero
- Why ‘The Old Guard 2’ Release Date Keeps Being Postponed
2025-03-31 09:17