Techub News message, GoPlus article analysis of the decentralized options protocol Ribbon Finance's attack principle. Attack address (0x657CDE) upgraded the price proxy contract (0xa4ac_Proxy) to a malicious implementation contract (0xE1f09d), then set the expiration times and expiration prices for the 4 tokens stETH, Aave, PAXG, LINK. After expiration, the attacker launched the attack, profiting from the erroneous prices at that time. It is noteworthy that when the project party's contract was created, the _transferOwnership state value of the attack address was already set to true, allowing it to pass contract security checks. Analysis shows that this attack address may have originally been one of the project party's management addresses, which was later controlled by hackers through social engineering attacks and other means to carry out this attack.