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Research reports
In-depth security reports, incident analyses, and industry research covering the state of Web3 security.
Incident analysisFortress Loans Incident AnalysisAn attacker was able to manipulate the project’s oracle allowing them to borrow a number of different tokens with inflated collateral and swap them leading to a drain of ~$3M (1,048.1 ETH and 400,000 DAI).
Incident analysisRevisiting FEI Protocol IncidentOn 30 April 2022, Fei Protocol announced that they were aware of and looking into an exploit on various Rari Fuse pools, that turned out to be a common re-entrancy attack. 
Incident analysisHarmony Incident AnalysisA bridge exploit occurred on Harmony’s Horizon bridge amounting to the loss of approximately $97M. 
Incident analysisWhat Can We Learn from the Luna/Terra Crash?On May 7th 2022, in one of the biggest upsets in crypto history, the Luna/Terra ecosystem came crashing down. This article will take you through what happened in the Luna/Terra crash, the lessons to be learned from it, and what users and web3 projects can do to help better protect themselves from the fallout of such upheavals going forward.
Incident analysisPragma Incident AnalysisIn total, ~$1.5m was removed from the Pragma Treasury and the Risk Free Value wallet by core members of the team before sending it to a Binance hot wallet on FTM. 
Incident analysisInverse Finance 02 April 2022On Apr-02-2022 11:04:09 AM +UTC, Inverse Finance, which enables users to borrow assets against their tokens, was exploited, leading to ~$14.5M worth of asset loss. 
Incident analysisLV Metaverse (LV PLUS) Incident AnalysisOn Tuesday, June 21st, 2022, the LV Metaverse (LV PLUS) was rugpulled, causing a loss of around $1.5M USD.
Incident analysisWhale Loans Incident AnalysisOn 20 June, Whale Finance experienced two separate exploits on the project's stablecoin AMM contracts which has led to ~$12k in losses.
Incident analysisInverse Finance Incident AnalysisOn 16 June 2022 a threat actor exploited Inverse Finance with a flash loan attack which netted them to ~53 bitcoin or $1.1 million, and ~10,000 tether (USDT).
A Buyer's Guide to Web3 SecurityUnderstanding web3 security can be confusing for newcomers. On the one hand,
the practices of decentralization that web3 is built on making it fundamentally
more secure that its web2 predecessors.
Incident analysisOsmosis Incident Analysis On June 7, 2022 Osmosis suffered a funds loss of around $5M due to a code pitfall in function `MaximalExactRatioJoin`
Incident analysisApollo X Incident AnalysisOn June 8, 2022 ApolloX token (APX) dropped by 52.12% resulting from a hack and loss of ~$1.5M