- The most common causes were re-entries, price oracle attacks and exploits
- DefiLlama made a report on the largest victims
Platforms DeFi lost over $21 million to hackers last month. Such data leads data analysis service DefiLlama.
The biggest incident of the month was the attack on Platypus Finance with re-entry into the smart contract. It resulted in the loss of $8.5 million in funds, as well as the depegging of their native stablecoin.
On February 1, BonqDAO reported that their Bonq protocol was under attack by an oracle. This allowed the attacker to manipulate the price of the AllianceBlock token (ALBT). And the project itself lost $1.7 million.
Another incident occurred literally the next day, February 2. Orion Protocol lost $3 million as a result of smart contract re-entry.
Later, Orion Protocol CEO Alexei Koloskov confirmed the attack, assuring everyone that all user funds were safe:
“We have reason to believe that the problem was not the result of any bugs in our core protocol code” Koloskov said.
DeFi network protocol dForce has become another victim of re-entry. This attack “enriched” the hackers by $3.65 million. The following DeFi heists are also mentioned in the report:
- Hope Finance – $1.86 million
- Dexible — $2 million;
- LaunchZone – $700,000
Chainalysis recently released a Crypto Crime report. It follows that hackers stole $3.1 billion DeFi in 2022. They also calculated that 24% of new 2022 tokens had signs of a pump and dump.