DeFi Lending Protocol Fortress Loses All Funds in Oracle Price Manipulation Attack

Fortress, decentralized finance (DeFi) lending protocol with an algorithmic money market and a synthetic stablecoin, has suffered an oracle price manipulation attack that resulted in the loss of all of its funds.

“Fortress has been hit with what we believe is an oracle manipulation attack draining all funds,” the project said on Twitter. “We are investigating to determine the exact method of attack.”

Blockchain security firm PeckShield also tweeted about the attack, saying that ETH 1,048 (USD 2.58m) and DAI 400,000, cumulatively worth around USD 2.98m, were stolen from the project. Fortress provided the same numbers.

Fortress is an algorithmic money market and synthetic stablecoin protocol designed to bring credit and lending to users on Binance Smart Chain (BSC).