NFT Astaria Lending Platform Suspended Due To Critical Error

Key Points:

• According to an announcement from the NFT Astaria Lending Platform, it encountered serious problems on June 20, 4:42 am UTC.
• It allows an attacker to manipulate the beacon to load a rogue implementation that enables the attacker to call self-destruct.
• The platform has confirmed that no funds have been lost.

NFT lending platform Astaria shared on Twitter that at 4:42 am UTC on June 20, the platform realized there was a problem with the underlying execution of BeaconProxy.sol, allowing attackers to manipulate the beacon to load malicious executables. This allows an attacker to call a self-destruct function.

All funds and NFTs are safe. No action is needed at this time. The project is suspended and cannot initiate new loans. The suspended state is to protect all assets in the protocol. They confirm that no funds are lost. The project also said that it has successfully executed a white hat recovery script, saving all ERC20 and ERC721 assets of all LPs and borrowers. All information will be updated for users as soon as possible.

Astaria has been in public beta since May 25. The recovery script uses an updated contract implementation and the Recovery Token, which has withdrawn all funds and NFTs to Astaria’s multi-signature address.

Non-fungible token lending platform Astaria has gone public after a lengthy closed beta period. The platform was co-founded by former decentralized finance (DeFi) protocol SushiSwap CTO Joseph Delong. NFT holders can lease their assets to traders who cannot afford blue-chip NFTs in one purchase. With support for over 300,000 NFTs, Astaria seeks to inject liquidity into the larger Ethereum-based NFT ecosystem.

Unlike other NFT lending platforms that work peer-to-peer with borrowers and lenders, Astaria uses a third party to facilitate its lending market, tapping into its NFT due diligence service. The upshot to acting as a “strategist” will help liquidity providers enter the market while assisting borrowers in leasing their properties.

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