Polter Finance
HackedDeFi · ✝ 2024
A flash-loan oracle attack wiped out ~$12M on Fantom.
Polter Finance was a Fantom lending protocol exploited in November 2024 for roughly $12M via a flash-loan price-oracle attack. The attacker manipulated the price of the SpookySwap LP token used as collateral to borrow the protocol's reserves.
- Peak
- ~$12M stolen
- Cause
- Hacked
- Year of death
- 2024
☠️ Cause of death
Flash loans manipulated the spot price of an LP token oracle, letting the attacker borrow against artificially inflated collateral.
📓 Lessons left behind
- —LP-token oracles are dangerously easy to manipulate.
- —Never price collateral from a single flash-loanable pool.
- —Small-chain forks inherit the same oracle pitfalls.
🌱 The idea that survived
Safe LP-token valuation
Reinforced fair-reserve LP pricing formulas resistant to flash-loan manipulation.
#defi#flash-loan#oracle