ribbon

GoPlus Chinese community analyzes the principle of the attack on the decentralized options protocol Ribbon Finance in a social media post.The attacker upgraded the price oracle contract to a malicious implementation contract through the address 0x657CDE, and then set the expiration time for four tokens: stETH, Aave, PAXG, and LINK to December 12, 2025, 16:00:00 (UTC+8) and manipulated the expiration prices, exploiting the incorrect prices to profit from the attack.It is worth noting that when the project party's contract was created, the _transferOwnership status value of the attack address was already set to true, allowing it to pass the contract security checks. Analysis shows that this attack address may have originally been one of the project party's management addresses, which was later controlled by hackers through social engineering attacks and other means to carry out this attack.

GoPlus Chinese community analyzes the principle of the attack on the decentralized options protocol Ribbon Finance in a social media post.The attacker upgraded the price oracle contract to a malicious implementation contract through the address 0x657CDE, and then set the expiration time of four tokens: stETH, Aave, PAXG, and LINK to December 12, 2025, 16:00:00 (UTC+8) and manipulated the expiration prices, profiting from the exploitation of the erroneous prices.It is noteworthy that when the project party's contract was created, the _transferOwnership status value of the attack address had already been set to true, allowing it to pass the contract security checks. Analysis shows that this attack address was likely one of the project party's management addresses, which was later controlled by hackers through social engineering attacks and other means to carry out this attack.

Aevo officially stated that due to a vulnerability in the smart contract update, the old Ribbon DOV vault was attacked, resulting in a loss of approximately 2.7 million dollars.The Aevo platform was not affected and will continue to operate normally. All Ribbon vaults have been suspended and will be deactivated immediately, with the vaults losing about 32% of their total assets due to the attack. Users are advised to follow the standard withdrawal process to retrieve their funds, which will require a contract upgrade. The upgrade will be launched next week (further notice will be provided).The claims window will be open for six months, after which the DAO will liquidate all remaining assets and distribute them to users who previously withdrew, with compensation amounts up to 19% of the missing funds or the remaining available amount.

ChainCatcher news, according to on-chain analyst @ali_charts monitoring, the Bitcoin Hash Ribbon indicator shows that the miner "surrender" has ended, indicating that the momentum of Bitcoin price will turn from negative to positive.

ChainCatcher message, Arkham data shows that about 50 minutes ago, the Vesting Escrow allocation contract of Ribbon Finance transferred 313.7 million RBN (approximately 480 million USD) to the multi-signature contract address of Ribbon Finance. The multi-signature contract address of Ribbon Finance transferred 30 million RBN (approximately 45.9 million USD) to the AEVO staking contract address.

ChainCatcher message, the on-chain structured product Ribbon Finance announced on social media that it will eliminate fees for Ribbon Earn Vaults starting today.

ChainCatcher news, the proposal for Ribbon Finance to merge into Aevo has been voted through on Snapshot by the Ribbon Finance community. Previously, Ribbon Finance announced a new governance proposal to merge Ribbon Finance into Aevo and designate Aevo as the sole brand name. Additionally, it plans to abolish the original token RBN and launch a new token AEVO. In the future, Ribbon's products will be integrated into Aevo's structured product suite, and the original RBN tokens will be exchanged for AEVO at a 1:1 ratio. (Source link)

ChainCatcher news, Ribbon Finance announced a new governance proposal RGP-33, planning to merge Ribbon Finance into its derivatives trading platform Aevo and designate Aevo as the sole brand name, restructuring governance and token economics. Ribbon Finance plans to abolish the original token RBN and launch a new token AEVO. In the future, Ribbon's products will be integrated into Aevo's structured product suite, and the original RBN and veRBN tokens will also be exchanged for AEVO at a 1:1 ratio.

ChainCatcher news, the on-chain structured product platform Aevo under Ribbon Finance has been opened to all users, allowing traders to trade without holding a Pass.In addition, Aevo has launched Bitcoin options and contract trading products, enabling users to trade Bitcoin options that expire daily, weekly, monthly, and quarterly, as well as Bitcoin perpetual futures contracts. (source link)

ChainCatcher news, the on-chain structured product Ribbon Finance tweeted that it will airdrop all the fees earned by the SOL treasury last year to Friktion users who migrate to Ribbon Finance before February 17, and users must deposit funds into the SOL treasury for at least 1 month to be eligible.According to informed sources, the reason Friktion decided to shut down the user platform is due to disagreements and friction among the project founders on how to advance Friktion's product roadmap. However, both founders declined to comment on the internal conflict. Since January 25, 2023, all Volts settings on Friktion's user interface have been in withdrawal mode only, with no deposits allowed, and users are advised to retrieve their assets. (CoinDesk)

ChainCatcher news, on-chain structured product Ribbon Finance recently announced the launch of its second round of VIP program, adjusting the user threshold to only require holding any of the following specific amounts of digital assets in any of its products (Ribbon Vaults, Earn, or Lend): 100 ETH, 5 BTC, 100,000 USDC, 2000 AAVE, or 250,000 veRBN.It is reported that Ribbon Finance launched the first round of the VIP program last month. The main benefits of the VIP program are that users can communicate directly with the team and receive 24/7 customer service. VIPs will also be able to preview new features and products being developed by the team in advance. In addition, VIPs will be eligible for extra perks such as customized merchandise, private events, closed-door AMAs, and other community activities. (source link)

ChainCatcher message, the on-chain structured product Ribbon Finance has initiated a community vote regarding the second batch of borrowers for the credit market Ribbon Lend, including four institutional options: Parallel Capital, Auros, Amber Group, and Nibbio. Ultimately, two borrower institutions will be selected, and the voting will end on November 6.It is reported that Ribbon Finance launched the credit market Ribbon Lend in September, allowing users to provide unsecured loans to vetted institutional market makers with high liquidity to earn returns, but only the highest-rated borrowers can create funding pools on the platform. (Source link)

Chain Catcher news, the unsecured lending product Ribbon's Lend from the DeFi platform Ribbon Finance has allowed crypto companies Folkvang and Wintermute to borrow over $10 million. The protocol went live on Monday and currently allows users to deposit approximately $15 million worth of USDC. Ribbon's foray into unsecured lending may indicate that the industry, led by companies like Maple Finance, Clearpool, and TrueFi, is heating up. (Source link)

Chain Catcher news, the DeFi derivatives protocol Ribbon Finance has announced the launch of the Ethereum-based options exchange Aevo. The first version will only offer ETH options trading, with other cryptocurrencies to be launched in the coming months.Chain Catcher reported in March this year that Ribbon Finance completed a $8.7 million Series B funding round, led by Paradigm.It is reported that Ribbon is an on-chain structured product that helps retail investors benefit more easily from the complex world of crypto derivatives. Investors deposit WBTC or ETH into a treasury that automatically executes a "bullish" options strategy, where the strike price is above the current asset price. Ribbon executes bullish options once a week and collects premiums. (Source link)