Hack history / 2023 / Hack or exploit
Ara Finance
Hack or exploit on Jun 18, 2023 · Token Approval Abuse
ATTACK TX CONFIRMED ON CHAINSOURCES AGREE ON DATE AND LOSS · 3 SOURCES
Lost
$125K
dollars at the time
Returned
none listed
as the sources state it
Rank
#1,643
among thefts by dollars lost
What happened
On June 18-19, 2023, an attacker exploited Ara Finance's unrestricted swap contract by flash-loaning 1.202 million USDT on BNB Chain. The contract lacked access control and held unbounded ARA and USDT approvals, allowing the attacker to steal ~$124,915.
Details
- Date
- Jun 18, 2023
- Kind
- Hack or exploit
- Method
- Token Approval Abuse
- How in
- Smart contract bug
- Target
- DeFi protocol
- Chains
- BNB Chain
Reported by
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Cite this page
SwanBluechip, "Ara Finance hack, Jun 18, 2023: $125K lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/htb66a91fcc5/ (data as of 2026-10-31).