- DilationEffect’s research reveals that Prime Protocol’s code allows unauthorized deposits.
- The vulnerability could enable hackers to deposit the remaining authorized amount into the lending pool.
- This flaw potentially allows officials to deposit coins into the agreement without the user’s consent.
In a stunning revelation, DilationEffect, a well-regarded security agency, has identified a potential exploit within the code of Prime Protocol, a cross-chain decentralized finance (DeFi) lending agreement. This flaw may allow external parties to deposit assets into user accounts without their permission, leading to potential security threats.
With Moonbeam as a hub for its connected contracts and Axelar’s General Message Passing for secure interchain communication, Prime Protocol has effectively created a hub for seamless blockchain operations.
However, DilationEffect’s investigation uncovers a loophole in the protocol’s code that could be misused by officials or hackers. They can deposit coins into a user’s account without consent, potentially exploiting the remaining authorized amount in all user addresses, thus paving the way for a potential security breach.
The discovery of this vulnerability raises a red flag for the security of decentralized platforms. It underlines the need for constant vigilance and robust security measures to protect user assets from potential cyber threats. DilationEffect’s research highlights the need for enhanced security features and emphasizes the importance of user awareness in the fight against cyber threats.
