Elephant Money
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Elephant Money

Reserve Exploit: Live Updates

The evidence is all onchain… We will find them
A normal rebalance is only suppose to be 1% and only after 2–4 weeks
Funds laundered with tornado.cash and sent to Ethereum via decentralized bridges
  • 0x8B7245C398E6a42b0475099b878D21101eF58471 472 ETH
  • 0x21904B8C9Fa6D7da88E10Ae9e4493B1464A3D56b 472 ETH
  • 0xfa2092b35546ef08cb736f1b4f26cc98a949e6f7 337 ETH
  • 0x8fac3349Bc2592337bc61d419E12AE2A18Fe6577 339.9 ETH
  • 0x2d3F27B6c8CAc4ba8B5D715D25AfcA03c05D0308 331.7 ETH
  • 0xEB1521aEf54436F31007D4a9378e1ceBc8cB44d9 180.4 ETH
  • 0x39C15D6dbc47F0EAB0fEE2469422E4A109352d54 473.4 ETH
  • 0x219395018CfB8e337f2c79010Cd70144Eb16F500 472.1 ETH
  • 0x3447d546d18a66Ab99Fe9edca23B6d8ce5c0B0a3 392.2 ETH
The ElephantReserve was audited by Solidity Finance
We tried to engage Paladin, I believe they would have been able to help if they accepted the offer
Snippet of invoice (does not include off-chain PII)
Peckshield has reviewed all added addresses to verify they have been removed
  • The ElephantReserve has been greatly simplified and no longer manages liquidity directly.
  • On mint BUSD funds are buffered in the BUSD Treasury
  • A block delayed sister claim function has been added to deliver minted tokens outside of the current block. This helps break flash-loan attacks and smart contract loops.
  • On redeem Pancakeswap is used to refund BUSD at market value. Heavy sellers will incentivize heavy buyers/stakers and this is the core of the arbitration engine that has historically kept TRUNK at peg. A TRUNK price under peg is an opportunity to earn BUSD for instant profit.
  • Liquidity is now managed by the new PegSupportTreasuryStrategy contract. This is an autonomous contracts that seeks to support the peg of TRUNK/BUSD and also responsibly transfer funds from the BUSD Treasury to the ELEPHANT Treasury while being resistant to price manipulation and flash-loan attacks, more details soon…
  • New reward and performance pools need to be spun up with adjusted credit balances. The flash-loan attack artificially inflated the amount of earned rewards.
  • Code review and testing before being delivered to Peckshield for audit.
May ads are payed for and ready to get back on track.
Peckshield has operated in professional and agile manner that is truly exceptional!
Several trusted groups have tested, discovered, and corrected issues in Alpha testing. Let’s GO!
  • Treasuries and Liquidity Pools — The core assets of the protocol are only stored in these locations between transactions
  • Executors — The Reserve and Stampede are now simplified contracts which do bookkeeping of user accounts and push funds in and out of treasuries based on user requests
  • Governance / Strategy — Reward pools and governance contracts groom LP and treasury liquidity in the system to maximize long term value



ELEPHANT.MONEY STABLE is a future-proof way to compound profits made across your portfolio. Lock in your gains. Use the Reserve to mint Elephant Money Stable (TRUNK).TRUNK is over collateralized by ELEPHANT which is backed by BNB and BUSD.

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