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Crypto DeFi

SlowMist: Aave v3 Loop Safe Module Exploited for 114 ETH

SlowMist reported that Aave v3’s Loop Safe module was exploited on October 2, with the attacker abusing an access-control flaw in FlashLoopAdapter’s open()/close() functions. By forging Safe authentication and executing arbitrary modules, the attacker drained about 114.09 ETH from two Safe multisig addresses and repaid roughly 1,300 WETH in debt to unlock collateral.

Original source

AI take

The exploit targeted an integration layer rather than Aave v3's core lending logic, which matters because it shows how access-control gaps in peripheral modules can expose user funds even when the base protocol holds. The affected parties are Safe multisig users relying on Loop's automation, not Aave depositors broadly. Whether other adapter-style modules share the same forged-authentication weakness — and how quickly such integrations are reviewed or paused — is the open question.

Generated by AI for reference only.

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