Create 2023-02-22-Dynamic-Finance.md

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Fact Checking Results

• Statement: Dynamic Finance, a DeFi aggregator, was exploited for 73 BNB ($22,400) on February 22, 2023, via a reentrancy attack on its StakingDYNA contract. ✅

  • Source: https://twitter.com/CertiKAlert/status/1628274049154531329

• Statement: The attacker exploited insufficient reentrancy protections, tricking the platform's deposit tracking system. Initially, the attacker deposited a small amount of $DYNA, then significantly inflated their deposit amount through a flash loan. ✅

  • Source: https://hacken.io/discover/flash-loan-attacks/

• Statement: This allowed them to claim exaggerated rewards and withdraw them, exploiting the platform’s reward calculation and withdrawal mechanisms. ✅

  • Source: https://hacken.io/discover/flash-loan-attacks/

• Statement: The identity of the attacker is unknown. The following addresses are associated with this attack: ✅

  • Source: https://twitter.com/CertiKAlert/status/1628274049154531329

• Statement: Losses amounted to 73 BNB worth $22,400. ✅

  • Source: https://twitter.com/CertiKAlert/status/1628274049154531329

• Statement:

  • February 22, 2023, 05:36 AM UTC: The first malicious transaction occurred.
  • February 22, 2023, 06:02 AM UTC: Dyna token has dropped 93%. ✅
  • Source: https://twitter.com/CertiKAlert/status/1628274049154531329

• Statement: The root cause of the attack is a reentrancy bug that tricked the deposit tracking system of the contract. ✅

  • Source: https://www.geeksforgeeks.org/reentrancy-attack-in-smart-contracts/

Editor's Notes

• In the ## Timeline section, reformat the dates to 'Month day, year, time PM UTC:' format. For example: 'February 22, 2023, 05:36 AM UTC:'.
• Check grammar and spelling throughout.
• Overall the text follows good structure and style.

Hugo SSG Formatting Check

• Does it match Hugo SSG formatting? ✅

Filename Check

• Correct Filename: 2023-02-22-Dynamic-Finance.md
• Your Filename: 2023-02-22-Dynamic-Finance.md ✅

Section Headers Check

• Allowed Headers: ## Summary, ## Attackers, ## Losses, ## Timeline, ## Security Failure Causes
• Your Headers: ## Summary, ## Attackers, ## Losses, ## Timeline, ## Security Failure Causes ✅

Metadata Headers Check

• Allowed Metadata Headers: date, target-entities, entity-types, attack-types, title, loss

• Your Metadata Headers: date, target-entities, entity-types, attack-types, title, loss ✅

• Notes:

  • Date in metadata matches date of event: <thinking>February 22, 2023</thinking> date: 2023-02-22 ✅
  • Target entities match: <thinking>Dynamic Finance</thinking> target-entities: Dynamic Finance ✅
  • Loss amount matches: <thinking>$22,400</thinking> loss: 22400 ✅
  • Entity types match: DeFi platform ✅
  • Attack types match: Reentrancy attack, flash loan attack ✅