Subcritical Cardano Weekly Newsletter - #64
It's been a great week for ADA price. Where are we headed next?
Book.io Book Club
Did you know book.io has a monthly book club? Be sure to check out their Discord for details on how to join!
Aneta BTC Update
AnetaBTC announced it’s public testnet for Cardano is scheduled to launch Thursday, April 20th, 2023.
Summon Platform Launch
Summon Platform, a DAO tooling project has announced their Public launch date: April 26, 2023. I’ll be checking it out and seeing what DAO tooling a content creator could use.
Lace Wallet Released
Lace.io has released their new wallet. Currently it has some mixed reviews due to not being feature complete at launch. Give it a try and let me know what you think.
Paribus Post-Mortem
If you missed it, Paribus had an issue shortly after mainnet. Here is the post-mortem breakdown:
The attacker initiated a flash loan of 200 ETH and 30,000 USDT.
The funds were deposited into the protocol as collateral.
The attacker used the 30,000 USDT deposit to borrow 13 ETH from the pETH pool.
The pETH pool's redeem function was used to withdraw the deposited collateral.
There was a vulnerability in the pToken redeem function, as the transfer occurred before storage update. This was a Check-Effects-Interaction (CEI) violation, but it was safeguarded by the nonReentrant modifier.
The CEI issue was initially reported as a low-level issue in our report and later marked as "Mitigated" during the second or third review. This was an oversight in the audit.
As the redeem function was executed on the pETH pool, the redeemed funds were in ETH and subsequently utilized by the fallback() function.
During the fallback() execution, the pETH balance remained unaltered, which allowed the attacker to use the collateral to borrow from the pUSDT and pWBTC pools.
The nonReentrant modifier did not protect against this attack, as the pUSDT and pWBTC pools are separate contracts.
As a result of the attack, the losses amounted to approximately 20,000 USDT from the pUSDT pool, 0.7 WBTC from the pWBTC pool, and 13 ETH from the initial borrow.
Genius X NFT
If you participated in the Genius X ISPO and haven’t minted your NFT, be sure to get it minted by April 19th!
Thursday Twitter Space
This Thursday’s Twitter Space we will be talking with DirectEd CEO Simon Sällström. It should be a fun conversation!
“DirectEd Development Foundation is a UK-based charitable organization on a mission to deliver evidence-based, highly scalable and cost-effective coding bootcamps and scholarships to under-resourced high-potential students in Africa.”
That covers everything this week. Let me know if I missed anything important!
What news did I miss? Let me know 👇