Scallop Protocol Suffers $142,000 Loss from Flash Loan Exploit
- Attack Overview: On April 26, Scallop Protocol was hit by a flash loan exploit, where the attacker drained approximately $142,000 (150,000 SUI) through manipulation of a deprecated side contract tied to the sSUI rewards pool, revealing a design flaw while ensuring core contracts remained unaffected and user deposits safe.
- Method of Attack: Analysts indicated that the attacker exploited Scallop's custom oracle price feeds to artificially depress SUI/USDC rates, allowing them to borrow assets at distorted prices and repay the flash loan within the same transaction, showcasing the precision of the execution.
- Reward Mechanism Flaw: The attacker leveraged an uninitialized “last_index” variable in the deprecated contract to claim rewards as if they had been staking since the pool's inception, ultimately crediting themselves with 162,000 SUI in a single transaction, which led to the complete drain of the 150,000 SUI in the rewards pool.
- Response Actions: Following the attack, Scallop's team paused operations but later resumed normal functioning of core contracts, confirming the safety of all user deposits; the attacker has since contacted the team, offering to return 80% of the funds in exchange for a white-hat bounty, with the incident currently under investigation.
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Technical Analysis for SCA
Technical Sentiment Analysis for Scallop (SCA). As of , Scallop (SCA) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SCA stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SCA is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Scallop (SCA) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0144 | 0.0153 | 0.016 | 0.0168 | 0.0175 | 0.0184 | 0.0191 |
| Fibonacci | 0.0153 | 0.0159 | 0.0162 | 0.0168 | 0.0174 | 0.0178 | 0.0184 |
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