{"id":75744,"date":"2023-03-17T13:48:10","date_gmt":"2023-03-17T11:48:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75744"},"modified":"2025-09-10T13:23:27","modified_gmt":"2025-09-10T10:23:27","slug":"blocksec-thwarted-attack-on-paraspace-nft-project","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blocksec-thwarted-attack-on-paraspace-nft-project\/","title":{"rendered":"BlockSec thwarted attack on ParaSpace NFT project"},"content":{"rendered":"<p>BlockSec researchers identified a vulnerability in ParaSpace&#8217;s NFT lending protocol. The bug threatened a loss of 2,900 ETH and an undisclosed amount of BAYC tokens.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">1\/ There is a flawed logic in borrow() of the ParaProxy contract (0x638a) of <a href=\"https:\/\/twitter.com\/ParaSpace_NFT?ref_src=twsrc%5Etfw\">@ParaSpace_NFT<\/a> . The attacker can borrow more tokens as his scaledBalance will be enlarged by depositing into the position of the proxy (0xC5c9), i.e., specifying the _recipient of depositApeCoin(). <a href=\"https:\/\/t.co\/Z4e1QOpLg3\">https:\/\/t.co\/Z4e1QOpLg3<\/a> <a href=\"https:\/\/t.co\/fkd96nAPHb\">pic.twitter.com\/fkd96nAPHb<\/a><\/p>\n<p>\u2014 BlockSec (@BlockSecTeam) <a href=\"https:\/\/twitter.com\/BlockSecTeam\/status\/1636650252844294144?ref_src=twsrc%5Etfw\">March 17, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Experts found that a potential attacker would only need to perform six steps to borrow uncollateralized funds.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">2\/ Specifically, the scaledBalance is calculated with the following formula: sharesAmount.mul(_getTotalPooledApeBalance()).div(totalShares), while _getTotalPooledApeBalance() could be manipulated. <\/p>\n<p>In total, there are 6 key attack steps. <a href=\"https:\/\/t.co\/kvEpHqPNP5\">pic.twitter.com\/kvEpHqPNP5<\/a><\/p>\n<p>\u2014 BlockSec (@BlockSecTeam) <a href=\"https:\/\/twitter.com\/BlockSecTeam\/status\/1636651578781229056?ref_src=twsrc%5Etfw\">March 17, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The ParaSpace team said they detected suspicious activity and paused the protocol.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We noticed a suspicious transaction, and as a security measure, we have paused the entire ParaSpace protocol.<\/p>\n<p>Currently, no transactions (withdrawals, deposits, liquidations) can take place with our contracts. <\/p>\n<p>We are currently investigating and will provide you with an update\u2026 <a href=\"https:\/\/t.co\/3vrIciVF5C\">https:\/\/t.co\/3vrIciVF5C<\/a><\/p>\n<p>\u2014 ParaSpace (@ParaSpace_NFT) <a href=\"https:\/\/twitter.com\/ParaSpace_NFT\/status\/1636617953599946752?ref_src=twsrc%5Etfw\">March 17, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The findings of the investigation will be published later.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abWe can confirm that all NFTs supplied to the protocol are safe and have not been liquidated\u00bb, \u2014 the team assured.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We can confirm that all NFTs supplied to the protocol are safe and have not been liquidated. <\/p>\n<p>BAYC:<br \/>NFT Staking Pool: <a href=\"https:\/\/t.co\/yg0ZalDK3n\">https:\/\/t.co\/yg0ZalDK3n<\/a><br \/>P2P Contract: <a href=\"https:\/\/t.co\/Xvh8ndYofn\">https:\/\/t.co\/Xvh8ndYofn<\/a><\/p>\n<p>MAYC:<br \/>NFT Staking Pool: <a href=\"https:\/\/t.co\/HKjZoUr2Nc\">https:\/\/t.co\/HKjZoUr2Nc<\/a><br \/>P2P Contract: <a href=\"https:\/\/t.co\/AvAhjgOrQG\">https:\/\/t.co\/AvAhjgOrQG<\/a>\u2026 <a href=\"https:\/\/t.co\/1nj1B9B2Nk\">https:\/\/t.co\/1nj1B9B2Nk<\/a><\/p>\n<p>\u2014 ParaSpace (@ParaSpace_NFT) <a href=\"https:\/\/twitter.com\/ParaSpace_NFT\/status\/1636619765887422464?ref_src=twsrc%5Etfw\">March 17, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As a reminder, in 2022 the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a>-industry suffered losses from hacks amounting to <a href=\"https:\/\/u1f987.com\/en\/news\/report-crypto-industry-losses-from-hacks-in-2022-rise-to-3-6-billion\">about $3.6 billion<\/a>. This is almost 50% higher than the year before, Beosin researchers estimated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BlockSec researchers uncovered a vulnerability in ParaSpace&#8217;s NFT lending protocol. The bug threatened the loss of 2,900 ETH and an undisclosed amount of BAYC tokens.<\/p>\n","protected":false},"author":1,"featured_media":75745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1301,1111],"class_list":["post-75744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-vulnerabilities","tag-cybersecurity"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75744"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75744\/revisions"}],"predecessor-version":[{"id":75746,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75744\/revisions\/75746"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75745"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}