DeFi hack attack: Three exploits snatch $11M in a single day
On September 24, three crypto projects were hit in separate incidents and the combined losses were reported at more than $11 million. The day’s largest theft was at Duelbits, while Payy Network and Meter also recorded losses.
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What it means
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Users and customers connected to these projects would see the impact immediately in the form of disrupted services or reduced confidence in how these systems handle funds. Anyone monitoring DeFi security would also notice that three projects were hit on the same day, with losses spread across Payy Network, Duelbits, and Meter.
In practice, the events show that funds could be drained from hot wallets at Duelbits, that Payy Network’s loss was tied to a bridge-related issue, and that Meter’s loss was tied to a verification flaw or unbacked token minting. What remains the same is that each incident is still being described as a separate security failure rather than one shared event.
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Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 1.1 years ago | UXLINK incident | $11M |
| 4.5 years ago | Saddle Finance · Swap Logic Flaw incident | $11M |
| 5.4 years ago | JBS · Ransomware incident | $11M |
| 5.4 years ago | Value Defi · Cross contract reentrancy incident | $11M |
| 5.7 years ago | YFI · Flash loan attack incident | $11M |
4200 incidents stored · 307 were as large as this one or larger ($11M)