Protocol Hack Analysis

Learn from the past. Detailed breakdowns of major DeFi hacks and exploits, what went wrong, and how to prevent similar attacks.

$1764M+
Total Losses Analyzed
8
Case Studies
6+
Attack Vectors
4
Chains Covered
Showing 8 of 8 case studies
$197M LostMar 2023

Euler Finance

Ethereum

The $197M Flash Loan Exploit

A sophisticated attack combining a donation function flaw with flash loans to drain the lending protocol.

Donation Attack + Flash Loan
Flash LoanDonation AttackLending
$70M LostJul 2023

Curve Finance

Ethereum

Vyper Compiler Reentrancy Bug

A bug in the Vyper compiler broke reentrancy locks, affecting multiple Curve pools.

Reentrancy (Compiler Bug)
ReentrancyCompiler BugVyperDEX
$114M LostOct 2022

Mango Markets

Solana

Price Oracle Manipulation

Attacker manipulated the MNGO token price oracle to borrow against inflated collateral.

Oracle Manipulation
OraclePrice ManipulationSolana
$625M LostMar 2022

Ronin Network

Ethereum

Private Key Compromise

North Korean hackers compromised 5 of 9 validator keys through social engineering.

Compromised Validators
BridgePrivate KeyValidators
$326M LostFeb 2022

Wormhole

Solana

Signature Verification Bypass

Attacker bypassed signature verification to mint unbacked wrapped ETH on Solana.

Input Validation
BridgeSignatureSolana
$182M LostApr 2022

Beanstalk

Ethereum

Governance Flash Loan Attack

Flash loan used to gain majority voting power and pass a malicious governance proposal.

Flash Loan Governance
Flash LoanGovernanceDAO
$130M LostOct 2021

Cream Finance

Ethereum

Oracle & Flash Loan Combo

Complex attack involving price oracle manipulation and flash loans to drain lending pools.

Oracle Manipulation
Flash LoanOracleLending
$120M LostDec 2021

BadgerDAO

Ethereum

Front-End Compromise

Attacker injected malicious scripts into the website to steal user approvals.

Front-End Attack
Front-EndApprovalPhishing

2023 Attack Timeline

Major DeFi exploits of the year

Mar 2023

Euler Finance

Donation Attack + Flash Loan

$197M
Jul 2023

Curve Finance

Reentrancy (Compiler Bug)

$70M