CandleFocus

Three DeFi hacks net $10 million in 48 hours despite ‘renaissance moment’

Author: Content Editor
Yesterday, two DeFi protocols, Onyx Protocol and Bedrock, suffered hacks resulting in a total loss of over $5 million. Onyx Protocol, a fork of Compound Finance, fell victim to a vulnerability in its NFT Liquidation contract, allowing an attacker to drain the vUSD stablecoin. Bedrock's faulty code allowed users to mint its uniBTC token at a 1:1 ratio with staked ETH, resulting in losses of approximately $2 million. Crypto security auditor Dedaub claims to have identified the vulnerability in advance and warned the Bedrock team, but there was no response. Truflation, a real-world-asset-focused platform, also reported losses of over $5 million due to a malware attack. A bounty has been offered for the return of the funds.

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