#troves
troves
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Saw a post about Troves (a strategy vault project on Starknet): the xWBTC/WBTC vault was exploited on October 31, with preliminary losses of about 8.6 BTC.
Key details: Permissions on the old rebalancing contract remained after it was replaced, and were used in the exploit. The team says it revoked the old contractโs permissions within about 40 minutes of discovering the incident, and paused three vaults: xWBTC/WBTC, xSTRK/STRK, and xstrkBTC/strkBTC. The current report is that no actual losses have been found in other vaults. A 1 WBTC white-hat bounty was offered on-chain to recover the remaining funds.
Once again: โthe contract was replaced, but the old permissions werenโt fully cleared.โ Permission lifecycle management causes more trouble than writing new contracts.
$BTC #Starknet #Troves #Security
Saw a post about Troves (a strategy vault project on Starknet): the xWBTC/WBTC vault was exploited on October 31, with preliminary losses of about 8.6 BTC.
Key details: Permissions on the old rebalancing contract remained after it was replaced, and were used in the exploit. The team says it revoked the old contractโs permissions within about 40 minutes of discovering the incident, and paused three vaults: xWBTC/WBTC, xSTRK/STRK, and xstrkBTC/strkBTC. The current report is that no actual losses have been found in other vaults. A 1 WBTC white-hat bounty was offered on-chain to recover the remaining funds.
Once again: โthe contract was replaced, but the old permissions werenโt fully cleared.โ Permission lifecycle management causes more trouble than writing new contracts.
$BTC #Starknet #Troves #Security
Key details: Permissions on the old rebalancing contract remained after it was replaced, and were used in the exploit. The team says it revoked the old contractโs permissions within about 40 minutes of discovering the incident, and paused three vaults: xWBTC/WBTC, xSTRK/STRK, and xstrkBTC/strkBTC. The current report is that no actual losses have been found in other vaults. A 1 WBTC white-hat bounty was offered on-chain to recover the remaining funds.
Once again: โthe contract was replaced, but the old permissions werenโt fully cleared.โ Permission lifecycle management causes more trouble than writing new contracts.
$BTC #Starknet #Troves #Security
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