Jun 2022 - Hare Finance Private Key Compromise - $15k (Global)
"Automated DCA Investment Protocol with Incentivized Rewards. Dollar-cost averaging is the way to maintain a stable investment and it is the backbone of the Hare Protocol. Utilizing the lightning fast Avalanche Network, you can earn stablecoin yields as your $Hare balance grows in the Hare Vault. Join us and become part of Hare Finance, the first of its kind - a dca protocol. Claim your stablecoin USDC rewards every hour!"
"Automated DCA Protocol (ADP) is a unique mechanism that provides higher stabilization for yield farming, staking, and NFTs. ADP enables users to leverage the dollar-cost average buys over a certain period of time."
"What makes the ADP a unique Protocol? It is the only protocol to employ automated buys with dollar-cost average of a platform token, and automatically staking it for the user. This method provides for unlimited and continuous passive stable income."
"Tomorrow is the big day, and we couldn’t be more proud of the team, our partners family, and our mods who helped us through this process. There has been a tremendous amount of hard work put into this protocol — especially by our developer Code Jacks. He has gone above and beyond to craft the unique DeFi experience that is Hare Finance."
On June 25, 2022 Hare Finance lost $15K due to private key compromise.
"Aegis Audits" "We are proud to announce we have begun onboarding @HareFinance for a full audit of their smart contracts. See you on the other side!"
"Guys, unfortunately the treasury wallet was hacked. We are doing refunds in the Discord server."
"We have a Hare-relief channel set up there and you can post your txn's. We will get to them asap."
Further Analysis
Hare Finance was launching an automatic dollar cost averaging portfolio, which allowed investors to provide funds that would beautomatically invested with high returns promised. The project used a wide variety of promotions across social media. Within a few days of launching, funds disappeared from the wallet. Refunds were reportedly processed through Discord before media related to the project disappeared.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
XCarnival Collateral Logic Error > > < < Ribbon Finance Malicious DNS Hijack
Sources/Further Reading
BlockThreat - Week 25, 2022 - by Peter Kacherginsky (Dec 31)
@HareFinance Twitter (Dec 31)
@HareFinance Twitter (Dec 31)
Transaction Details - Snowtrace (Dec 31)
@HareFinance Twitter (Dec 31)
@HareFinance Twitter (Dec 31)
Hare Finance – Medium (Dec 31)
HARE FINANCE | The FIRST automated DCA investment protocol with incentivized rewards! - YouTube (Dec 31)
Auto DCA Protocol (Dec 31)
@aegisaudits Twitter (Dec 31)
Hare Finance Whitelist Giveaway Contest (10 Whitelist Spots!) - YouTube (Dec 31)
"La Crypta - External AMAs" Hare Finance AMA with Dao King (Podcast Episode 2022) - IMDb (Dec 31)
"La Crypta - External AMAs" Hare Finance AMA with Fear VS Greed (Podcast Episode 2022) - IMDb (Dec 31)
Hare finance (harefinance) - Profile | Pinterest (Dec 31)
Hare Finance Launch - Ape O'Clock (Dec 31)
Telegram: Contact @harefinance (Dec 31)
Auto DCA Protocol (Dec 31)
Auto DCA Protocol (Dec 31)
Auto DCA Protocol (Dec 31)
The big day is coming… Tomorrow. Tomorrow is the big day, and we… | by Hare Finance | Medium (Dec 31)
@HareFinance Twitter (Dec 31)
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