Pragma rates six Starknet price feeds critical after Nostra's $3.5M oracle exploit
Oracle provider Pragma rated six of 22 Starknet feeds critical risk on Sept. 18, days after Nostra said a manipulated NSTR price let one account borrow about $3.5M.
Why it matters
Pragma's ratings are directed at lenders weighing whether reported collateral values can actually be realised, and it names six tokens it considers unable to pass that test. Nostra has published no final loss figure, so the full size of the borrowing exploit remains open.
Key facts
Nostra said a manipulated NSTR oracle price allowed one account to borrow approximately $3.5 million in other assets against NSTR collateral.
3,500,000 USDReported by CryptoSlate
At token amounts the oracle valued at $10,000, Pragma measured about 15% deterioration in NSTR sell quotes against quotes for $10 sales.
15 %Reported by CryptoSlate
Pragma measured about 17% deterioration in EKUBO sell quotes at token amounts the oracle valued at $10,000.
17 %Reported by CryptoSlate
Pragma measured about 20% deterioration in BROTHER sell quotes at token amounts the oracle valued at $10,000.
20 %Reported by CryptoSlate
Pragma measured about 22% deterioration in LORDS sell quotes at token amounts the oracle valued at $10,000.
22 %Reported by CryptoSlate
What happened
CryptoSlate reported that oracle provider Pragma classified 6 of 22 Starknet mainnet market and rate feeds as critical risk in a Sept. 18 liquidity assessment, saying a quoted token price does not show the collateral behind a loan can be sold to cover it. The assessment followed a Sept. 17 borrowing exploit at Nostra, a Starknet lending protocol, which said a manipulated NSTR oracle price let a single account borrow about $3.5 million in other assets against NSTR collateral. Pragma placed BROTHER, DAI, DOG, EKUBO, LORDS and NSTR in the critical tier and rated nine other feeds high risk, without stating that every feed listed is used as collateral. Pragma measured the gap between sell quotes for token amounts the oracle valued at $10,000 and quotes for $10 sales, and put the deterioration at about 15% for NSTR, 17% for EKUBO, 20% for BROTHER and 22% for LORDS. Nostra's final losses, recoveries and withdrawal status were unknown when CryptoSlate published, and no second outlet had reported on the story.
How the story developed
- Update
Nostra borrowing exploit on Starknet
Nostra said a manipulated NSTR oracle price let one account borrow about $3.5 million in other assets against NSTR collateral.
- Update
Pragma liquidity assessment rates six feeds critical
Pragma classified 6 of 22 Starknet mainnet market and rate feeds as critical risk and nine others as high risk.
- First report
First report by CryptoSlate
Pragma flags 6 price feeds as critical risk following $3.5M Starknet lending exploit
- Update
CryptoSlate publishes the account
The report cited Nostra's account of the exploit and Pragma's Sept. 18 assessment, with Nostra's final losses and withdrawal status still unknown.
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CryptoSlate Crypto media | Pragma flags 6 price feeds as critical risk following $3.5M Starknet lending exploit | Original |
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