DeFi attack season is open

DeFi attack season is open

There has been 4 important DeFi exploits in the last 7 days.

Sept. 14: Solana-based Raydium fell victim to a DDoS attack, forcing the whole network to suspend its operations for over 14 hours,

Sept. 17: SushiSwap’s token launch platform MISO had malicious code injected into its front end, replacing the original contract with the hacker’s Ethereum address. Almost 865 ETH were transferred to it, but after Sushi’s CTO denounced an anonymous developer who worked on Sushi in the past, the funds were returned (it’s still not clear who the attacker was though),

Sept. 19: cross-chain DeFi protocol pNetwork lost over $12M in #BTC to hackers on the #BSC who leveraged a bug in its codebase,

Sept. 20: an Avalache-based lending protocol Vee Finance saw its contracts attacked and the equivalent of $35M in BTC and ETH transferred to attacker’s address.

Positive points? The most secure protocols really start to stand out in the DeFi crowd, all while the industry has more mistakes to learn from.