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CertiK Flags 193 Suspicious Transactions Linked to SynapLogic Contracts

CertiK has identified repeated flash loan-based minting of SYP tokens via an unverified SynapLogicon contract, highlighting ongoing DeFi protocol exploitation risks.

ETH

Summary

CertiK Alert has reported 193 suspicious transactions targeting an unverified SynapLogicon smart contract. Attackers repeatedly deployed new addresses to invoke function 0x670a3267(), minting 16,000 SYP tokens using a 1 ETH flash loan before reclaiming the borrowed ETH. The incident underscores continued vulnerabilities in unverified DeFi contracts.

Terms & Concepts
  • Flash loan: A type of uncollateralized loan in decentralized finance (DeFi) that must be borrowed and repaid within a single blockchain transaction.
  • Unverified smart contract: A self-executing blockchain code whose source has not been verified on-chain, increasing the risk of vulnerabilities or malicious behavior.
  • SYP token: A cryptocurrency token associated with SynapLogic, used in the reported flash loan attack.