A vault drain is the unauthorized removal of digital assets from a smart contract vault. This security incident describes the illicit extraction of a substantial quantity, or the entirety, of digital assets stored within a smart contract designed as a vault. Such events typically result from the exploitation of underlying code vulnerabilities, critical logic errors within the contract’s operational framework, or compromised administrative access controls. It represents a direct loss of user or protocol funds.
Context
News reports frequently detail vault drains following successful exploits in DeFi protocols, underscoring the severe consequences of smart contract vulnerabilities. The focus within the community remains on rigorous security audits, bug bounty programs, and implementing robust access control mechanisms to prevent such catastrophic losses. Developing more secure vault designs is a priority.
A critical rounding error in the `batchSwap` function allowed for precision manipulation, enabling the systematic draining of over $120 million from V2 liquidity vaults.
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