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.
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.
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.
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.
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.
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.
The Level Finance hack significantly affected the platform and its users, as the attacker managed to steal $1.1 million in referral rewards. This breach undermined trust in Level Finance and raised concerns about the security of similar DeFi platforms.
On April 15th, 2023, Hundred Finance was hacked, resulting in a loss of approximately $7.4 million USD in various cryptocurrencies. The attacker exploited an integer rounding vulnerability in the platform's contract logic when a market was empty.
On Apr 17, 2023. The DeFiGeek Community fell victim to a security breach in which an attacker exploited a flash loan vulnerability, causing the loss of 10 ETH (valued at over $20,000) from their DeFiGeek Community Pool Dai (fDAI-102
The Deus DAO hack had significant financial consequences, with users collectively losing around $6.5 million across Arbitrum, BSC, and Ethereum chains. Furthermore, the hack caused the DEI stablecoin to depeg by more than 80%, destabilizing its value and potentially shaking investor confidence.