In January 2024, multiple DeFi platforms suffered major security breaches, resulting in significant financial losses. @MIM_Spell experienced a precision loss error, leading to a $6.5 million theft and depegging the MIM stablecoin from $1.00 to $0.84. Overall, the month saw a total loss of $157.9M across smart contract hacks, rug pulls/scams, and key compromises. Specific incidents included a phishing scam on Ethereum resulting in a loss of $236,276 worth of Aave WBTC and USDC, and the exploitation of Superfluid for $13M worth of crypto assets in 2022. Additionally, from 2020 to 2023, DeFi exploits led to a staggering $58.78B in losses, highlighting the ongoing challenges in the sector.
A staggering $58.78B was lost to exploits in DeFi from 2020 to 2023, according to @intotheblock. What kinds of exploits dominate? Which auditors have reviewed dapps with the most losses? What's the historical trend? Take a look: 🧵
Every year, $100s million are stolen in DeFi due to Oracle Manipulation attacks. As a security researcher, understanding them is key. We've put together the full guide with everything you need to know. Read it now on👇 https://t.co/JjT67zrJ9R
🏴☠️ On This Day: Revisiting Past 😈#Crypto #Hacks On Feb 8, 2022, Superfluid, an Ethereum-based money streaming protocol, was exploited for $13M worth of crypto assets. An exploiter manipulated a #smartcontract #vulnerability in the Superfluid’s host contract by creating… https://t.co/FbnutNfXEH
3 Days, 3 Phishing Scams Major #Crypto Phishing Scams over the week. 📌Feb-08-2024 12:16:59 AM +UTC An address on #ethereum lost $236,276 worth of Aave WBTC and USDC. 😔Victim: 0x407a71481374e59d5a950ecba11e201c8df06b32 👿Scammer: 0xb3b52ff66b9ace60bf1fad2bfa7bdd20bac5252b… https://t.co/UBCXP7km1c
🔍 This past month in web3 security: January 2024 In January, a total of $157.9M was lost across smart contract hacks, rug pulls/scams, and key compromises 🤯 For a more in-depth breakdown, keep an eye out for our upcoming January Hacks Roundup 👀 https://t.co/kL1dr10avv
🚨 January 2024 saw a surge in #DeFi hacks, with cybercriminals launching ten major attacks, resulting in total losses worth over $50M 😱 🧐 Read more about last month's biggest hacks and key takeaways ⬇️ https://t.co/joEPvjNQQU
It’s time for a new #ImmunefiAnalysis! Let’s dive in 👇 1/8 On January 30th, 2024, @MIM_Spell was exploited with a precision loss error in their CauldronV3 and CauldronV4 contracts. This led to the theft of $6.5 million, and depegged the MIM stablecoin from $1.00 to $0.84. https://t.co/YnRuW1hkA8