2023.02.08 - Hedge Zoinks

The Hedge Zoinks protocol suffered an exploit, resulting in the loss of approximately 70K BUSD. The HZUSD token price dropped 96%. The exploit was facilitated by the absence of proper limitations on the withdrawal function in the Snack Pool contract. The contract lacked appropriate verification procedures for checking the balances of users who had not previously made deposits. The attacker transferred the stolen funds to Ethereum and cashed out through Tornado Cash.