The Wildcat Protocol - HALITUS's results

Banking, but worse - a protocol for fixed-rate, undercollateralised credit facilities.

General Information

Platform: Code4rena

Start Date: 16/10/2023

Pot Size: $60,500 USDC

Total HM: 16

Participants: 131

Period: 10 days

Judge: 0xTheC0der

Total Solo HM: 3

Id: 296

League: ETH

Wildcat Protocol

Findings Distribution

Researcher Performance

Rank: 125/131

Findings: 1

Award: $0.06

🌟 Selected for report: 0

🚀 Solo Findings: 0

Lines of code

https://github.com/code-423n4/2023-10-wildcat/blob/main/src/market/WildcatMarketConfig.sol#L134

Vulnerability details

Impact

As per docs, "Subsequent to launch, base APR and capacities can be adjusted by the borrower at will".

After creating a market, a borrower cannot increase the maximum total supply which contradicts the documentation.

Proof of Concept

The WildcatMarketConfig.setMaxTotalSupply() only allows the MarketController to set the maximum total supply, however, no such function exist in the WildcatMarketController.sol contract that can call the setMaxTotalSupply() function in the deployed market.

So a borrower cannot change the max total supply of a market after deployment.

 // WildcatMarketConfig.sol
  function setMaxTotalSupply(uint256 _maxTotalSupply) external onlyController nonReentrant {
    ...
    ...
  }

Tools Used

Manual review

Add a function in WildcatMarketController.sol that allows the borrower to call WildcatMarketConfig.setMaxTotalSupply()

Assessed type

Other

#0 - c4-pre-sort

2023-10-27T06:21:25Z

minhquanym marked the issue as duplicate of #162

#1 - c4-pre-sort

2023-10-27T06:58:28Z

minhquanym marked the issue as duplicate of #147

#2 - c4-judge

2023-11-07T13:54:49Z

MarioPoneder marked the issue as partial-50

#3 - c4-judge

2023-11-07T14:16:53Z

MarioPoneder changed the severity to 3 (High Risk)

#4 - laurenceday

2023-11-08T17:08:52Z

Noting the upgrade to High Risk here: countering that all this means as is is that the current market token capacity cannot be changed after deployment: no funds are at risk. We've acknowledged this as a Med Risk elsewhere.

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