ethereumhack

Here’s the latest on a major DeFi exploit where a protocol lost millions:
CryptoRank
The Defiant
DeFi Protocol Makina Suffers Devastating $5M Flash Loan Hack, Exposing Critical Oracle Vulnerability
Truebit Hack Wipes Out TRU in First Major Exploit of 2026
Today
January 13
🔥 Makina/MakinaFi DeFi Protocol Hack (~$4–$5M Lost)
A decentralized finance platform called Makina Finance (also reported as Makina/MakinaFi) was exploited in an attack that drained one of its key liquidity pools. The attacker siphoned approximately 1,299 ETH, worth roughly $4.1 – $5.1 million, by exploiting a vulnerability related to its liquidity pool configuration. Makina Finance has halted contract interactions and is investigating the breach. �
Phemex +1
The stolen ETH was quickly moved to new wallet addresses, making recovery harder. �
Phemex
PeckShield and other blockchain security trackers flagged the incident soon after it happened. �
Phemex
💥 Other Recent DeFi Exploits
Truebit Protocol Hack (~$26M) — Earlier in January 2026, the Truebit project suffered a significant exploit estimated at around $26 million, marking one of the largest DeFi attacks so far this year and highlighting persistent security risks in smart contract systems. �
The Defiant
🛡️ Wider Context: DeFi Security Concerns
The DeFi ecosystem has seen hundreds of exploits, cumulatively costing users and protocols hundreds of millions to billions of dollars over recent years. �
The National
A common attack method is flash loan or oracle manipulation, where attackers borrow large amounts momentarily or distort price feeds to trick protocols into approving fraudulent withdrawals. �
Medium
Industry experts are pushing for stronger standards and safer coding practices to move beyond the old “code is law” mindset and bake security into protocol specifications from the start. �
DL News
📉 What This Means for DeFi Users
Protocol hacks erode trust and liquidity in decentralized finance.
Losses can impact token prices and lead to paused operations or contract freezes.
Users should always exercise caution, verify smart contract audits, and consider risk management before depositing funds.
If you want a brief explanation of how these exploits typically work (flash loans, oracle manipulation, etc.) or specific steps to protect your funds, just ask!
$ETH
#DeFiHack #CryptoExploit #SmartContractRisk #BlockchainSecurity #EthereumHack