Decentralized finance (DeFi) platform Akropolis has suffered a $2 million loss following a re-entrancy attack utilizing a flash loan from derivatives platform dYdX, according to Akropolis founder and CEO Ana Andrianova.
- A re-entrancy attack allows a user to withdraw more funds from a contract than the contract holds. Ethereum's 2016 The DAO hack was also a re-entrancy attack.
- Akropolis’ Delphi savings pool was audited twice, the team said in the Discord, once by CertiK and also by firms SmartDec and Pessimistic.
- Andrianova told CoinDesk an autopsy of the attack will be released Friday.
Update (November 12, 22:00 UTC): New communications from Akropolis including the type of attack have been added.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.