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At least a dozen crypto entities attacked since Drift Protocol hack
TL;DR
Since the $280 million Drift Protocol hack on April 1, at least 12 DeFi protocols and crypto businesses have been attacked. Notable victims include CoW Swap, Bybit, and Rhea Finance, which lost $7.6 million.
Key points
- At least 12 DeFi protocols attacked since April 1
- Drift Protocol lost $280 million in a hack
- Rhea Finance exploited for $7.6 million
Drift ProtocolRhea FinanceCoW SwapBybit
At least 12 DeFi protocols and crypto businesses have been attacked in just over two weeks since the $280 million Drift Protocol exploit on April 1.
Attacks aimed at crypto protocols or companies since the start of April include CoW Swap, Hyperbridge, Bybit, Dango, Silo Finance, BSC TMM, Aethir, MONA, Zerion and, most recently, Rhea Finance and the Grinex exchange.
The Drift Protocol was hit with one of the largest exploits this year on April 1, losing around $280 million in a long-running social engineering attack suspected to involve North Korean-affiliated actors.
The attacks also come amid growing concerns this month that advancing AI models, such as Anthropic’s Claude Mythos and equivalent models, could eventually make it even easier for cyberattackers in the future.
Rhea Finance exploited for $7.6 million
DeFi protocol Rhea Finance reported on Thursday that an attacker “leveraged a vulnerability in Rhea’s Margin Trading feature to execute a coordinated pool manipulation attack,” impacting the Rhea Lend smart contract.
Rhea Finance updates its users on the exploit. Source: Rhea Finance
Around $7.6 million was extracted, according to blockchain security firm CertiK.
“The attacker created fake token contracts and added liquidity in fresh pools, likely misleading the oracle and validation layer,” it explained.
Meanwhile, the Russia-linked Grinex exchange suspended operations after a $13.7 million hack on Thursday, “unfriendly states” for the incursion.
Q&A
What happened during the Drift Protocol hack on April 1?
The Drift Protocol was exploited for approximately $280 million in a long-running social engineering attack, suspected to involve North Korean-affiliated actors.
Which crypto entities have been attacked since the Drift Protocol hack?
At least 12 crypto entities have been attacked, including CoW Swap, Bybit, Rhea Finance, and others.
How much was Rhea Finance exploited for?
Rhea Finance was exploited for $7.6 million amid the wave of attacks following the Drift Protocol hack.
