Project name: Orion Protocol

Project type: Exchange

Date of exploit: Feb 2, 2023

Asset loss: $3M

Vulnerability: Reentrancy

Date of audit report publishing: May 24, 2021

Conclusion: Out of Audit Scope

Details of the Exploit

Background

Orion protocol is a liquidity aggregator that aggregates the liquidity of a single crypto exchange into a decentralized platform. The (vulnerable) exchange contract serves as a router to swap tokens and also allows users to deposit into the contract.

Nature of the Vulnerability

The vulnerability is due to a reentrancy attack targeting the exchange contract, where the attacker can perform a reentrant call to deposit tokens during the swap, thus causing the deposit tokens to also be counted in the swap process.

CertiK Audit Overview

Conclusion

On Feb 2, 2023, the Orion Protocol was exploited for $3M due to a reentrancy attack targeting the exchange contract. The compromised contract (eth:0x98a877bb507f19eb43130b688f522a13885cf604) was not audited by CertiK. CertiK only audited for Orion’s token and sale contracts.

References

Rekt news: https://rekt.news/orion-protocol-rekt/