Arcadia Finance, Silo Finance, and CoinMarketCap Breached for $4.1M via Input Validation Failures and Front-End Exposure

Arcadia lost $3.6M after its rebalance() function failed to validate swapData. Silo Finance was drained of $542K when _fillQuote() trusted calldata pointing to silo.borrow(). CoinMarketCap suffered a $22K front-end exploit via a malicious image triggering unauthorized pop-ups.

In Brief

• Arcadia Finance lost $3.6M due to missing input validation in the rebalance() function that allowed an attacker to manipulate swapData.
• Silo Finance suffered a $542K loss due to missing validation in the _fillQuote() function.
• CoinMarketCap lost $22K due to a front-end attack that triggered pop-ups from a malicious image link.

Hacks Analysis

Arcadia Finance | Amount Lost: $3.6M

On July 15th, the Arcadia Finance exploit on Base chain resulted in a $3.6M loss. The root cause of the attack was missing input validation in the rebalance() function for the swapData parameter. The attacker initially borrowed 5,623 WETH and 9,968 cbBTC and called the setAssetManager() to get manager permissions. The attacker then minted an LP‑NFT using 1,773 USDC and 0.123 cbBTC and repaid 14.4 cbBTC so the health check would pass. This allowed the attacker to call the rebalance() function with malicious swapData that allowed the withdrawal of liquidity.

Exploited Contract (on Base): 0xC729213B9b72694F202FeB9cf40FE8ba5F5A4509

Transaction: 0x06ce76eae6c12073df4aaf0b4231f951e4153a67f3abc1c1a547eb57d1218150

Silo Finance | Amount Lost: $542K

On June 25th, the Silo Finance exploit on Ethereum mainnet resulted in a $542K loss. The root cause of the exploit was missing validation on external call logic. The attacker called the _fillQuote() function with malicious _swapArgs data. This data pointed to a legitimate Silo market (WETHSilo) as exchangeProxy and contained calldata for silo.borrow(). The contract executed this borrowing call, mistakenly assuming it was a swap. The attacker set their own wallet as the receiver in the calldata, redirecting the borrowed ETH and making a profit.

Exploited Contract: 0xCbEe4617ABF667830fe3ee7DC8d6f46380829DF9

Transaction: 0x161a4e9bd777c81af4b2f2c4062281bf25ce460b9b04fbea83f09fba270c8b3b

CoinMarketCap | Amount Lost: $22K

On June 20th, the CoinMarketCap exploit resulted in a $22K loss due to a front-end related attack. The CoinMarketCap team confirmed that an image on their website included a link that triggered malicious code via an API call. As a result, some users experienced unexpected pop-ups when visiting the site. The CoinMarketCap team removed the content and confirmed implementing safeguards.

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