On March 2022, Fantasm Finance was exploited in a business logic flaw on Fantom, resulting in approximately $2 in losses. That makes the Fantasm Finance exploit the 470th largest DeFi incident out of 690 documented in our archive.
Attack Mechanics: How the Fantasm Finance Business Logic Flaw Played Out
Exploit Class Applied to Fantasm Finance
The Fantasm Finance incident on March 9, 2022 is classified as a Business Logic Flaw. A business-logic bug in the contract — such as an incorrect formula or missing state update — lets the attacker withdraw more than their share. In the full archive, Fantasm Finance is 1 of 144 documented business logic flaw incidents.
Fantasm Finance in Context
At $2, the Fantasm Finance exploit is a minor (<$1M) event compared to the largest same-class incident in our archive — – EulerFinance (2023) at $200M.
Prior Business Logic Flaw Before Fantasm Finance
The nearest business logic flaw incident before Fantasm Finance was Popsicle, 217 days earlier on August 4, 2021 ($20M lost). The same exploit class surfaced again within the business logic flaw attack surface.
Fantasm Finance Vulnerability Signature
The primary source categorises the Fantasm Finance exploit specifically as “Business logic in mint()”. This narrower label is entity-specific: it reflects how the Fantasm Finance contract failed, rather than the broad business logic flaw pattern alone.
Target Chain: Fantom
The vulnerable Fantasm Finance contract was deployed on Fantom. This determines the block cadence, mempool, and forensic tooling available to investigators.
Impact & Recovery for Fantasm Finance
Fantasm Finance Loss Figure
The Fantasm Finance exploit caused $2 in losses — a minor (<$1M) incident and the 64th largest of 129 documented in 2022.
Where Fantasm Finance Sits Among Business Logic Flaw Attacks
Ranked by loss size, Fantasm Finance is the 100th largest of 144 business logic flaw incidents documented. That puts the Fantasm Finance loss below the class average of $6.08M.
Timeline Since the Fantasm Finance Incident
The Fantasm Finance exploit occurred 4.1 years ago (1,497 days). The contract, its fork-block, and the attack transaction remain on-chain and forensically reproducible.
Primary Reference for Fantasm Finance
Public post-mortem / on-chain analysis for the Fantasm Finance incident: view source.
FAQ
How much did Fantasm Finance lose?
The Fantasm Finance exploit in March 2022 resulted in $2 in losses — the 64th largest of 129 DeFi incidents that year.
When did the Fantasm Finance hack happen?
The Fantasm Finance exploit was recorded on March 9, 2022 — 1,497 days ago.
What type of exploit hit Fantasm Finance?
The Fantasm Finance incident is classified as a Business Logic Flaw. A business-logic bug in the contract — such as an incorrect formula or missing state update — lets the attacker withdraw more than their share.
Which blockchain was Fantasm Finance deployed on?
The Fantasm Finance contract was deployed on Fantom, one of 1 documented incidents on that chain.
How does Fantasm Finance compare to the largest Business Logic Flaw attack?
The largest business logic flaw incident in our archive is – EulerFinance (2023) at $200M. The Fantasm Finance loss is $2.
What statistical tests were applied besides the GARCH model?
Descriptive statistics, unit root tests, and ARCH effect tests.
What challenges does IoT integration face in smart building systems?
Cybersecurity, data privacy, and ensuring interoperability among diverse devices.