Uncovering the Gains Network Money Glitch
Unveiling a groundbreaking revelation in the Gains Network ecosystem, blockchain security experts uncovered a loophole that allowed traders to claim immense gains of up to 10X on every trade, regardless of the token prices involved. This glitch, which has captivated the crypto community, shed light on potential vulnerabilities within DeFi platforms on Polygon and Arbitrum.
The Gains Network Landscape
As of the latest data from DeFi Llama, the Gains Network boasts an impressive total value locked (TVL) of $20.29 million. Since its establishment in May 2023, this platform has facilitated an astonishing $25 billion in derivatives trading volume, showcasing its widespread impact on the market.
- The Gains Network ecosystem reveals a TVL of $20.29 million.
- Derivatives trading volume on Gains Network has reached $25 billion since May 2023.
Unveiling the Exploit
A recent report by Zellic brought to light a critical bug affecting a derivative of the Gains Network protocol. This flaw allowed malicious actors to set abnormally high buy limit orders, enabling them to win trades automatically, fueling their gains unscrupulously.
- Zellic’s report exposed a vulnerability in a protocol fork of Gains Network.
- The bug enabled attackers to place inflated buy limit orders and exploit trades without risks.
Insight into the Glitch
The mechanism behind this exploit involved manipulatively setting stop-loss prices above the open trade prices within the protocol. By doing so, traders could secure profits without facing any potential losses, creating an unfair advantage in the trading ecosystem.
- Manipulating stop-loss prices above trade prices allowed for risk-free profits.
- Setting stop-loss higher than the open price resulted in automatic exits, generating artificial gains.
Addressing the Vulnerabilities
While the Gains Network protocol had implemented safeguards to prevent users from setting stop-loss prices above their trade initiation prices, loopholes were discovered that bypassed these checks. Exploiting these flaws could lead to substantial financial losses within the platform.
- Exploiting the vulnerabilities could deplete the platform of its funds.
- Zellic identified flaws that allowed for a potential profit of 900% for traders.
Securing the Network
Upon identifying these critical vulnerabilities, Zellic promptly notified various teams managing Gains Network forks, such as Gambit Trade, Holdstation Exchange, and Krav Trade. These teams swiftly acted to address the vulnerabilities, ensuring that their protocols were no longer susceptible to these exploits.
- Zellic alerted Gains Network fork teams to address the identified vulnerabilities.
- Teams like Gambit Trade, Holdstation Exchange, and Krav Trade have mitigated the risks within their protocols.
Closing Thoughts on Gains Network Vulnerabilities
As the crypto community grapples with the revelation of these vulnerabilities within the Gains Network ecosystem, it serves as a stark reminder of the ever-evolving landscape of DeFi platforms. By acknowledging and promptly addressing these issues, stakeholders can work together to fortify the security and integrity of these innovative financial networks.