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CASE FILE #15
ExploitEthereum

Zunami Protocol

May 15, 2025

CAUSE OF DEATH

Unrestricted token withdrawal function executed by unauthorized party.

TOTAL LOST
$500K
CHAIN
Ethereum
TYPE
Exploit
📄

FORENSIC REPORT

TIME OF DEATH

Time of death: May 15, 2025, approximately 14:32 UTC. The specimen—Zunami Protocol—was found in a state of acute liquidity exsanguination on the Ethereum mainnet. Preliminary observations indicate the subject had been actively soliciting deposits prior to the catastrophic event, suggesting no visible signs of distress to the naked eye.

CAUSE OF DEATH ANALYSIS

Cause of death analysis reveals a critical architectural defect in the withdrawStuckToken() function. The pathological finding: this administrative function possessed zero access controls, rendering it functionally equivalent to leaving the vault door not merely unlocked, but actively welcoming. The exploit allowed any party—authenticated or otherwise—to execute token extractions with the casual ease of a withdrawing legitimate funds. The specimen's smart contract exhibited a textbook case of permission-optional design, where function calls that should have required multi-signature authorization or time-locked governance instead executed on demand.

CONTRIBUTING FACTORS

Contributing factors suggest chronic negligence rather than acute external trauma. Code review processes appear to have been either absent or cosmetic. No on-chain governance mechanisms gated administrative functions. The subject's security posture might be characterized as 'trust-based'—specifically, trust that nobody would notice the open wound. This is what we in the industry call 'aggressive optimism.'

VICTIM IMPACT

Victim impact assessment: $500,000 in total protocol drain. Depositors experienced direct asset loss; protocol token holders witnessed immediate value destruction. The grief cascaded across multiple wallet addresses, each representing either a liquidated position or a moral lesson purchased at considerable expense.

PATHOLOGIST'S NOTE

Pathologist's note: I've examined three thousand rekt specimens in my career. The withdrawStuckToken() exploit represents perhaps the purest distillation of why we cannot have nice things in decentralized finance. The function's name itself—a title suggesting emergency maintenance for edge cases—became the implement of its own destruction. The irony here is almost geological in its layers. One might say the protocol was stuck not just in its token handling, but in its entire approach to security. This one died exactly as it lived: transparently, on-chain, and entirely preventable.

"Zunami Protocol hemorrhaged $500k when withdrawStuckToken() proved fatally permissionless. Another day, another governance-optional exploit. The token extraction wound was unsurvivable."

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Data from DefiLlama