DeFiHardhatOracleProxyUpdates
100,000 USDC
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Submission Details
Severity: low
Invalid

Protocol makes use of wrapped counterparts oracles for pricing

Summary

Vulnerability Details

Take a look at https://github.com/Cyfrin/2024-02-Beanstalk-1/blob/a3658861af8f5126224718af494d02352fbb3ea5/protocol/contracts/C.sol#L72

address internal constant UNIV3_ETH_USDC_POOL = 0x88e6A0c2dDD26FEEb64F039a2c41296FcB3f5640; // 0.05% pool

The above is used while querying prices for the ETH token, but it's instead the WETH pool address, and also against the USDC token, now where as the former might be a bit harder to depeg, the latter has depegged multiple times

Impact

This hints that whenever there is a depeg then the price returned is going to be flawed or pricing logic might not even be accessible, this is cause protocol mixes query of both chainlink and uniswap to confirm that the prices are within the greedy, leading to all attemots to query prices in this case https://github.com/Cyfrin/2024-02-Beanstalk-1/blob/a3658861af8f5126224718af494d02352fbb3ea5/protocol/contracts/libraries/Oracle/LibUniswapOracle.sol#L32 to revert after its been passed to main contract to verify the greediness check whenfetching the manipulation resistant ETH/USD price.

Tools Used

Recommendations

Consider using a more reliable source of pricing as a secondary/fallback oracle, for e,g tellor

Updates

Lead Judging Commences

giovannidisiena Lead Judge about 1 year ago
Submission Judgement Published
Invalidated
Reason: Design choice
Assigned finding tags:

Informational/Invalid

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