Hackers conducted seven major attacks on DeFi protocols in February 2023, stealing more than $21 million.
According to DefiLlama, hackers conducted seven massive exploits in the decentralized finance (DeFi) sector. The total loss is estimated at $21.41 million.
During February 2023, hackers carried out attacks on the following DeFi protocols:
- BonqDAO. The lending protocol was hacked on February 1. Hackers manipulated the price oracle in one of the protocol’s smart contracts. Losses were estimated at $1.7 million.
- Orion. The decentralized exchange suffered a reentrancy attack on February 2. The losses were estimated at $3 million.
- dForce Network. The DeFi protocol also suffered a reentrancy attack on February 10. The hacker stole about $3.65 million, but the funds were already recovered on February 13.
- Platypus Finance. The lending protocol was hacked on February 16. Hackers managed to manipulate the price oracle with a flash loan attack and withdrew $8.5 million from the protocol. Later, the Platypus Finance team confirmed two more exploits, which brought the total loss to $9.1 million.
- Hope Finance. The attacker conducted an exploit of the Hope token (HOPE) algorithmic stablecoin router on February 20. As a result, the hacker stole $1.86 million in crypto, sending the funds to Tornado Cash.
- Dexible. The hacker managed to break into the aggregator’s selfSwap feature on February 20. This allowed the attacker to change the router’s address and related data to steal $2 million.
- LaunchZone. On February 27, the attacker used an unverified BNB Chain DeFi protocol contract to drain $700,000.
According to DefiLlama analytics, hackers were able to steal considerably more money from DeFi protocols in February 2023 than in January. Thus, in the first month of 2023, hackers carried out only two successful attacks, stealing about $740,000.
However, February figures are still among the lowest compared to the amounts stolen by hackers last year. To recall, crypto losses amounted to about $3 billion in 2022, most of which hackers stole in October.
