Safetin

Safetin, the security label for DeFi & Blockchain.
On a mission to analyze, test and report technological vulnerabilities.

[Safetin @safetin]

How the @Level__Finance Referral Controller V2 smart contract has been exploited 👇

[EXTSLOAD 🪴 @EXTSLOAD]

1/6 🧵 A significant vulnerability was discovered in the LevelReferralControllerV2 smart contract from
@Level__Finance
after a recent hack that led to a substantial loss of funds. In this thread, I will discuss how the vulnerability occurred and how the attackers exploited it.

[Safetin @safetin]

If you want to check out an interesting example 👉 https://t.co/xBppEuAy5N

[Societe Generale Group @SocieteGenerale]

Societe Generale–FORGE, a fully integrated and regulated subsidiary of Societe Generale Group, has built an open, secure and institutional-grade platform for digital asset operations, underpinned by full banking level safety and regulatory compliance.

[Safetin @safetin]

🌟🔐 Curious about the security implications of big banks & corporations creating their own stablecoins & tokens? Safetin is on the case! We'll be releasing in-depth reports soon. Stay informed! 📑

[Safetin @safetin]

The attacker exploited a PUBLIC burn function that allowed them to burn tokens of ANY address.

They used this function on the LP address to increase the price of the token and make a profit of $9 million.

[Safetin @safetin]

⚠️ A few hours ago, Safemoon was exploited.

Let's discuss how it happened:

The deployer's address upgraded their token smart contract, but this new smart contract had a problem.

👇See below for details.

[Safetin @safetin]

Smart contract security tip: Always use a comprehensive test suite to catch potential vulnerabilities before deploying your #SmartContract. Rigorous testing can save you from costly exploits down the line. #BlockchainSecurity

[Safetin @safetin]

🔗 Solidity Challenge 🔗

Explain what is the problem with this random number generation function:

[Safetin @safetin]

If Metamask warns you with this kind of red alert, most likely, the dApp is a scam.

[Safetin @safetin]

A wallet signature can be as dangerous (or even more) as a malicious transaction from your wallet.

A malicious dApp can make you sign a transaction (to send ETH, to approve a particular token...)

⚠️ Be very cautious when a dApp asks you to sign a message. ⚠️

[Safetin @safetin]

CoW Swap, a new DEX, was exploited, resulting in the loss of over $180,000 in funds

Attacker used the GPv2Settlement contract and tricked approval of SwapGuard for DAI spending, then triggered it to transfer out DAI. The SwapGuard function allows to make arbitrary function calls

[Safetin @safetin]

#4
Note that:
🤨 Nobody can predict the perfect timing for all trades
🤗 No need to regret not investing in an asset that has gained value
🤩 Hundreds of new assets being introduced in the DeFi space every day.

By thoroughly researching (DYOR) you are sure to find your own gem💎

[Safetin @safetin]

#1
The feeling of not wanting to miss out on something that others are experiencing or enjoying is known as Fear of Missing Out (FOMO).

#FOMO is commonly felt when an asset experiences a significant increase in value over a short period of time.

[Safetin @safetin]

#3
Since FOMO is a personal feeling and affects those who are not disciplined in their investments, to avoid falling victim to it, it is important to:

♻️ change your mindset and strive for mental strength,

🎯 choose an investment strategy and stick to it.

[Safetin @safetin]

Orion experienced a reentrancy attack with funds withdrawn using a fake token, ATK. Attacker caused losses of $2.8 M on Ethereum implementation and $200,000 on BSC.

His wallet was passing ETH through Tornado Cash.
Orion's CEO assured investors that all funds are safe and secure.

[Safetin @safetin]

Be wary of people who give #cryptotrading advice, as they may not have your best interests in mind.

To avoid falling into traps, set limits on your crypto-currency investments.

Remember: always trade with funds you're willing to part with!
We can't say this enough!

[Safetin @safetin]

The SEC alleged Avraham Eisenberg manipulated Mango Markets’ MNGO governance token, allowing him to steal $116M worth of cryptocurrency

According to the complaint, he allegedly artificially raise the price of the token relative to USDC, then drained the assets from Mango Markets

[Safetin @safetin]

Such coins are more likely to survive a bear market and potentially thrive in the long run.

It can also be helpful to diversify your portfolio to include a mix of high-quality coins rather than just focusing on a single coin.

[Safetin @safetin]

When the market is in a bearish phase, it's especially important to focus on the quality of the coins you're holding or considering buying

Look for coins with strong fundamentals, such as a solid team, a clear roadmap, and a working product
⬇️

[Safetin @safetin]

SEC charges Avraham Eisenberg with manipulating Mango Markets' MNGO token, resulting in the theft of $116 million in crypto assets.

Eisenberg faces anti-fraud and market manipulation charges. SEC seeks permanent injunctive relief, disgorgement and civil penalties.