A post by @Phalcon_xyz on X.
UPDATE: Our further investigation suggests that most of the profit came from approximately 33.06B TENDRIL acquired in total for less than $10K through a liquidity position in an attacker-created V3 pool before the attack. The substantial…
@Phalcon_xyz on X
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BlockSec Phalcon’s follow-up investigation found that most of the profit from the TENDRIL exploit came from roughly 33.06 billion TENDRIL tokens acquired for under $10,000 through a liquidity position in an attacker-created Uniswap V3 pool before the attack. The attacker then cashed out by exploiting the substantial price gap between the V3 pool and the V2 pool, while the burn-sync mechanism added only about $10,000+ in extra profit. The findings shift the focus from the burn-sync mechanic to the attacker’s pre-positioning in the V3 pool and the pricing discrepancy between the two pools. The related transaction was cited on-chain, and the next thing to watch is whether the low-price V3 sales are traced to a specific wallet or protocol event.
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Named in this story
TENDRIL, BlockSec Phalcon, V3 pool, V2 pool