BlockSec: FutureSwap Suffers Reentrancy Attack on Arbitrum Chain, Losing Approximately $74,000

BlockBeats News, January 14th, according to BlockSec Phalcon monitoring, FutureSwap's smart contract on the Arbitrum chain was once again exploited, with an estimated loss of around $74,000. The attack exploited a reentrancy bug, where the attacker conducted a two-step process: first, taking advantage of the reentrancy bug during a liquidity provision process 3 days prior to mint an excessive amount of LP tokens; then, after waiting for 3 days, burning these illegally minted LP tokens to redeem the underlying collateral, stealing funds from the protocol and profiting in the process.