Sunray Finance, Fire Token, and OnyxDAO Drained via Key Compromise, Launch-Time Burn Flaw, and Exchange Rate Abuse
Sunray Finance lost $2.8M after a private key leak enabled minting of 200T SUN tokens. Fire Token was exploited seconds post-launch via a flawed burn-on-transfer mechanism. OnyxDAO suffered a $3.8M loss after low liquidity let an attacker spike the oETH exchange rate through Compound-style manipulation.
In Brief
Sunray Finance’s private keys were compromised.
Fire Token contract suffered a price manipulation attack within seconds after launch.
Low liquidity in Onyx contract allowed the attacker to manipulate price exchange.
Hacks Analysis
Sunray Finance | Amount Lost: $2.8M
On October 31st, the Sunray Finance exploit on the Arbitrum chain resulted in a $2.8M loss. The root cause was a private key compromise, enabling the attacker to mint 200 trillion SUN tokens. The exploit was executed shortly after Sunray Finance’s management contract upgrade. Sunray Finance has confirmed that the exploit involved newly minted coins and no individual user wallets were directly affected.
Exploited Contract (on Arbitrum): 0xb1bbe57f5c474996a84274f0078a2411e1a65b8a
On October 1st, the FireToken exploit on the Ethereum mainnet resulted in a $24K loss within seconds of launch. The root cause was a flaw in the token-burning mechanism during transfers to the Uniswap liquidity pool. This allowed the attacker to manipulate the pool’s balance by reducing the supply and artificially inflating the token price. Specifically, the attacker called the private _transfer() function that transferred a portion of tokens to a ‘DEAD_ADRESS’ (burnt tokens).
On October 19th, the OnyxDAO exploit on the Ethereum mainnet resulted in a $3.8M loss. The attacker used a Compound V2 vulnerability in Onyx’s low-liquidity market to manipulate exchange rates. They took a 2,000 ETH flash loan from Balancer, depositing 1,999.5 ETH into the Onyx Ether contract. By donating large amounts to a low liquidity contract and redeeming nearly all ETH, the attacker inflated the exchange rate. OnyxDAO acknowledged the incident and is exploring recovery options.
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Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
In Brief
Remitano suffered a $2.7M loss due to a private key compromise.
GAMBL’s recommendation system was exploited.
DAppSocial lost $530K due to a logic vulnerability.
Rocketswap’s private keys were inadvertently deployed on the server.
Hacks
Hacks Analysis
Huobi | Amount Lost: $8M
On September 24th, the Huobi Global exploit on the Ethereum Mainnet resulted in a $8 million loss due to the compromise of private keys. The attacker executed the attack in a single transaction by sending 4,999 ETH to a malicious contract. The attacker then created a second malicious contract and transferred 1,001 ETH to this new contract. Huobi has since confirmed that they have identified the attacker and has extended an offer of a 5% white hat bounty reward if the funds are returned to the exchange.
