ParaSpace

According to reports, the NFT lending agreement ParaSpace will charge a fee starting from May 1, 2023, including a 3% fee for APE pledge. This fee will be charged when Claim reward

On April 8th, ParaSpace announced that it had airdropped ParaVault NFTs to the damaged users in the previous incident.
ParaSpace has airdropped ParaVault NFTs to users who were pre

On March 25th, the NFT loan agreement ParaSpace tweeted that its agreement has been upgraded, and the enhanced security features of the withdrawal time lock have been fully impleme

On March 21, it was reported that the NFT lending agreement ParaSpace disclosed the progress of attack processing and will reopen the agreement in stages. BlockSec and 12 other sec

On March 20th, the NFT loan agreement ParaSpace tweeted that the review and testing of the security patch has now been completed to ensure the security of user assets when restarti

On March 19th, the NFT lending agreement ParaSpace announced that the funds had been recovered from BlockSec and was rebalancing the fund pool on the platform. At the same time, efforts were being made to repair the cAPE exchange so that it could recover to a 1:1 ratio to APE. Once the phased reopening of the protocol begins, things like the front-end will be fixed and display correct and accurate data. ParaSpace: Funds have been recovered from BlockSec and efforts are being made to restore cAPE and APE 1:1 anchoring Analysis based on this information:ParaSpace, a lending platform for non-fungible tokens (NFTs), announced on March 19th that it had successfully recovered funds from BlockSec, a smart contract auditing firm that had been entrusted with the platform’s NFT collateral. This news came after ParaSpace had reported a security breach affecting its cAPE exchange, which had caused the value of its in-house token cAPE to drop dramatically. In its announcement, ParaSpace noted…

According to reports, ParaSpace announced on social media that the team has worked with the BlockSecTeam to determine the reasons for the earlier exploits of the ParaSpace protocol. Currently, all user funds and assets on ParaSpace are secure, without NFT being damaged, and the economic loss of the protocol is minimal. Due to the rapid action taken by the BlockSecTeam, the 2909 ETHs that the user attempted to extract from the agreement were promptly saved. ParaSpace: User assets are secure and there is no NFT damage. Currently, we are working to fix the vulnerability Analysis based on this information:ParaSpace, a blockchain-based ecosystem, recently revealed that the protocol had been exploited by a user which put the community’s funds and assets at risk. However, the team stated on social media that they worked with BlockSecTeam, known for their expertise in blockchain security, to investigate and solve the issue. The ParaSpace team announced that all user funds and assets are safe, and…

According to reports from the Web3 network security company Ancilia, the root cause of the attack on the NFT lending protocol ParaSpace occurred in the scaledBalanceOf() function of the contract 0xddde38696fbe5d11497d72d8801f651642d62353, which is used to calculate the user’s collateral through the supply() function. However, manipulating the number of APE tokens in the function getPooledApeByShares() allows scaledBalanceOf() to return a large value. Users can own a large amount of collateral and use it to borrow more assets. Ancilia: The root cause of the ParaSpace attack occurred in the scaledBalanceOf() function of the 0xddde3 contract Analysis based on this information:The Web3 network security company, Ancilia, has identified a vulnerability in ParaSpace, an NFT lending protocol that enables users to manipulate the collateral amount. According to reports, the root cause of the attack occurred in the scaledBalanceOf() function, which is linked to the contract 0xddde38696fbe5d11497d72d8801f651642d62353. This function is used to calculate the collateral amount that users have. Manipulating the number of APE tokens…

On March 17th, the Web3 Knowledge Map Protocol 0xscope tweeted, saying, “The ParaSpace contract is not working properly: 1. Users can extract more APEs than they thought. 2. User debt calculation errors have led to 268 liquidations in progress.” 0xscope reminded, “Extracting your assets requires you to assume your own risk.” The contract failed before the ParaSpace protocol was suspended, allowing users to overdraw APE and causing a large number of incorrect clearing Analysis based on this information:The Web3 Knowledge Map Protocol 0xscope issued a warning on March 17th, stating that the ParaSpace contract was not functioning properly, and users were exposed to considerable risks. The 0xscope tweet mentioned two specific issues, including users extracting more assets than they anticipated and a glitch in the user debt calculation process. As a result of these problems, 268 liquidations were in progress, putting the contract’s participants in jeopardy. The ParaSpace contract is a platform for users to invest and earn profits on…

On March 17th, BlockSec tweeted that it had blocked an attack on the NFT lending agreement ParaSpace, saving 2900 ETH assets, and hoped that ParaSpace would contact it as soon as possible. BlockSec: Blocked an attack on ParaSpace and saved 2900 ETH assets Analysis based on this information:BlockSec, a cybersecurity firm that focuses on blockchain technology, tweeted on March 17th that it had successfully blocked an attack on ParaSpace, an NFT lending agreement. The attack was aimed at stealing 2900 ETH assets from ParaSpace, but thanks to BlockSec’s timely intervention, the assets were saved. BlockSec urged ParaSpace to contact them as soon as possible to discuss the details of the attack and provide further security measures. This message conveys a few important points about the state of blockchain security and the risks that come with NFT lending. Firstly, it highlights the vital role that cybersecurity firms like BlockSec play in protecting blockchain assets. As blockchain technology continues to evolve and…

According to reports, ParaSpace, the NFT lending agreement, officially stated that due to the team’s observation of suspicious transaction operations, the ParaSpace agreement has been suspended for security reasons, and users cannot conduct any transactions (withdrawals, deposits, and settlements). ParaSpace: For security reasons, currently users cannot perform any transactions Analysis based on this information:ParaSpace, the popular non-fungible token (NFT) lending agreement, has recently been suspended due to alleged suspicious transaction operations, as reported by the company. In a statement released on their official website, ParaSpace mentioned that their team has observed some transactions being carried out on their platform that violated their security guidelines. As a result, the company has opted to suspend all user transactions, including withdrawals, deposits, and settlements, until further notice. The suspension of transactions on ParaSpace is primarily aimed at preventing any unauthorized access to the platform or the funds involved in it. According to the company’s directive, users will not be able to access their…