Flash Loan Attack Vector Analysis: Sky Lending

Target Protocol: Sky Lending (TVL: $5390.8M)

Security Assessment Report: Flash Loan Attack Vector Analysis

Target Protocol: Sky Lending (Lending & Borrowing Infrastructure)

Assessed Scope: Flash Loan Dynamics, Oracle Dependency, Liquidity Pool Interaction, Governance/Module Interactions

Severity Classification: Architectural & Economic Vulnerability Assessment

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1. Executive Summary

This assessment evaluates potential flash loan attack vectors within the Sky Lending protocol architecture across Ethereum Mainnet and Layer-2 deployments. Flash loan attacks leverage uncollateralized, single-transaction liquidity to exploit economic design flaws, price oracle lag, share-ratio calculation vulnerabilities, or state inconsistencies.

The evaluation concludes that while core lending operations utilize robust decentralized oracle feeds (e.g., Chainlink / Maker Oracle Security Modules), specific edge interactions—such as secondary collateral markets, low-liquidity vault types, and automated liquidations—present theoretical exposure vectors if defensive constraints are relaxed.

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2. Identified Attack Vectors

Vector 1: Oracle Price Manipulation via Spot DEX Pools (Low-

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