Merlin DEX Hack Analysis
In April 2023, Merlin DEX,a decentralized exchange (DEX) built on ZkSync, suffered a hack during a Liquidity Generation Event for its MAGE token, resulting in an estimated loss of $1.8 million from the protocol.
SushiSwap Hack Analysis
On April 9, 2023, SushiSwap suffered a security breach which led to a loss of over $3.3 million. The attack exploited a flaw in the RouteProcessor2 contract of SushiSwap’s router processor. The fallout was felt across several major chains that had previously authorized the RouteProcessor2 contract.
SafeMoon Hack Analysis
Safemoon suffered an attack in which the SFM/BNB pool was drained, resulting in a loss of $8.9M worth of ‘locked LP’. The attack was carried out by exploiting a vulnerability in the new Safemoon contract that allowed anyone to burn SFM tokens from any address, thus inflating the price of SFM tokens in the pool.
Kokomo Finance Hack Analysis
Kokomo Finance has taken off with approximately $4 million worth of user funds, leaving users unable to withdraw their funds. Wrapped Bitcoin deposits were rugged, with almost $2M of tokens still remaining in the project’s pools on Optimism.
Dexible Hack Analysis
The Dexible hack affected a total of 17 user accounts, with the majority of losses coming from a single address belonging to BlockTower Capital, a prominent investment firm.
Platypus Finance Hack Analysis
On February 17, 2023, Platypus Finance was hacked, resulting in a loss of approximately $8.5 million worth of assets. In this hack analysis, we will delve into the details of the attack, the vulnerability that was exploited, and the impact it had on the platform and its users.
Jimbo’s Protocol Hack Analysis
Jimbo’s Protocol is a decentralized finance (DeFi) system built on the Arbitrum chain. The protocol uses a semi-stable floor price for its ERC-20 token, $JIMBO, backed by a treasury of Ether (ETH). However, despite its pioneering efforts to maintain on-chain liquidity and price floors, Jimbo’s Protocol recently faced a Flash loan attack.
Orion Protocol Hack Analysis
The attackers exploited a reentrancy vulnerability in the Orion Protocol’s core contract, ExchangeWithOrionPool, by constructing a fake token (ATK) with self-destruct capability that led to the transfer() function.
Zunami Hack Analysis
Zunami is a decentralized protocol operating in the Web3 space, specializing in issuing aggregated stablecoins like UZD and zETH. These stablecoins are generated from omnipools that employ various profit-generating strategies. Recently, the protocol was exploited, resulting in a loss of $2.1M.
BonqDAO Hack Analysis
The BonqDAO security breach that occurred on February 2, 2023, had far-reaching consequences for the platform, its users, and the wider DeFi ecosystem. The attack exploited a vulnerability in the integration of the Tellor Oracle system, which BonqDAO relied on for obtaining token price information.
