DeFi hack attack: Three exploits snatch $11M in a single day
- Published
- Updated
- Since then
- 2 new reports
- In
- DeFi
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.
Key claims & sources
What it means
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.
Market reaction i
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
Protos
Crypto Economy
context
Cryptonews.com
Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 1.1 years ago | UXLINK · Social engineering incident | $11M |
| 4.5 years ago | Saddle Finance · Swap Logic Flaw incident | $11M |
| 5.4 years ago | JBS · Ransomware incident | $11M |
| 5.5 years ago | Value Defi · Cross contract reentrancy incident | $11M |
| 5.8 years ago | YFI · Flash loan attack incident | $11M |
4282 incidents stored · 314 were as large as this one or larger ($11M)