Faulty Logic in Smart Contract Led to Abracadabra Hack

[nihalsari]

Blockchain researchers say Abracadabra’s $1.7M exploit stemmed from a flawed “cook” function. The attacker bypassed solvency checks by chaining operations that overrode safeguards, draining 1.79M MIM tokens across six wallets. Contracts have since been paused to prevent further losses.

[Rimon Khan]

Shows how one small coding oversight can lead to massive losses in DeFi.

[Abdul Khan]

Smart contract testing needs stronger standards. Bugs like this shouldn’t slip through audits.