ALT The Solana-based Drift defi perpetual futures exchange was exploited for $280 million. The project alerted the community on social media, writing: "Drift Protocol is experiencing an active attack. ... This is not an April Fools joke." The project later described the exploit as "a novel attack involving durable nonces, resulting in a rapid takeover of Drift's Security Council administrative powers." Once the attacker had access to admin capabilities, they quickly eliminated risk management limits on the protocol and drained huge quantities of tokens, which they swapped to USDC and then ETH.

ALT Some have criticized USDC's issuer, Circle, for not freezing the stolen funds during the six hours they were held in USDC. Unlike ETH, USDC is controlled by a centralized company that can, and regularly does, freeze assets determined to have been stolen or connected to illicit activity. The theft is among the largest in defi history.

ALT Moonwell faces $1 million governance attack The Moonwell lending protocol is facing a governance attack on its deprecated Moonriver instance, that could drain $1 million from the project. Because Moonwell's MFAM governance token trades at fractions of a cent, an attacker was able to accumulate around 40 million tokens, submit a malicious proposal, and achieve quorum. Moonwell governance token holders are now scrambling to vote down the proposal before the voting ends on March 27. While the vote is currently not slated to pass, with 68% of votes opposing, some are concerned that the attacker could have more governance tokens held in reserve. If deployed at the last minute, the vote could still pass. Some have advocated for the Moonwell team to use its "Break Glass Guardian", which would allow them to prevent the attack from succeeding regardless of the vote outcome.

ALT This is only the most recent of Moonwell's troubles after the protocol suffered a $1.78 million loss in February due to an oracle misconfiguration and a $3.7 million loss in November 2025.

ALT BlockFills goes bankrupt Approximately a month after halting deposits and withdrawals, citing liquidity issues and "recent market and financial conditions", the American crypto lender BlockFills has filed for bankruptcy. Filings in Delaware bankruptcy court reveal the company has between $50 million and $100 million in assets and between $100 million and $500 million in liabilities. The list of creditors include customers like 007 Capital and Artha Investment Partners, and the firm has a $4.75 million loan outstanding to fellow crypto lender Nexo. Also on the list of creditors are the Chicago Blackhawks, with whom BlockFills signed a sponsorship deal in 2022. BlockFills was backed by investors including Susquehanna and CME Ventures.

ALT Balancer Labs shuts down after $110 million hack After a November 2025 exploit in which $110 million was drained from the Balancer defi protocol, the company behind the project has announced it will shut down. Besides the massive loss, the hack also caused users to flee the protocol, and Balancer's total value locked quickly plummeted from around $775 million to around $300 million. It has continued to decline since, now hovering around $150 million. Balancer co-founder Fernando Martinelli has said he strongly considered shutting down the protocol entirely, but ultimately decided to continue the project as it generates a relatively small amount of revenue. Instead, the project will move to being operated by a DAO and operating company, which Martinelli hopes will allow them to dodge "real and ongoing legal exposure" and "the liability of past security incidents".

ALT Although another Balancer co-founder has optimistically presented this as "the start of a better chapter" for Balancer, it remains to be seen whether a skeleton crew will be able to revive the project.

ALT USR stablecoin depegs in $24 million exploit The Resolv USD stablecoin, also known as USR, lost its intended dollar peg and dropped to around $0.14 after an exploiter was able to mint and sell tens of millions of unbacked tokens. USR is an asset-backed stablecoin that uses cryptoassets like bitcoin, ETH, and other stablecoins as collateral. An exploiter took advantage of a flaw in USR's minting code to create tens of millions of USR tokens without depositing any assets to back them. The attacker then sold the unbacked USR, crashing the stablecoin's price to as low as $0.14. The attacker has profited at least 11,400 ETH (~$24 million), though they are still selling. Some defi protocols paused USR-exposed strategies to avoid downstream impacts. Resolv issued a statement that the token's collateral pool was unaffected, though this is likely little comfort for those who purchased the unbacked USR.

ALT Venus Protocol accumulates $2.15 million in bad debt after exploit The BNB Chain's Venus Protocol lending protocol accumulated $2.15 million in bad debt after an exploiter manipulated the price of the Thena protocol's THE token. THE had very low liquidity, and the exploiter took advantage of it to manipulate the THE price oracle by borrowing against THE, using the borrowed funds to buy more THE, and repeating — causing the price oracle to reflect higher and higher prices. The attacker was able to avoid a supply cap on Venus by "donating" the funds rather than depositing them in the standard way. While the exploit left the Venus Protocol with over $2 million in bad debt, it's not clear if the attacker even made money from the exploit. The exploiter's position was ultimately liquidated, collapsing the increase in THE price. However, it's possible the exploiter took advantage of the price discrepancy elsewhere to profit.

ALT The Venus Protocol has had a number of issues in the past — notably in June 2023, when the team developing the BNB Chain had to intervene when the a thief borrowed $150 million on Venus against stolen tokens and then faced liquidation.

ALT Trader loses almost $50 million in Aave swap gone wrong A trader using the Aave interface attempted to swap $50 million USDT for AAVE. However, due to the enormous size of the order, the purchase had dramatic impact on the aave price. The Aave interface warned the customer about the price impact, and the trader clicked a checkbox to accept the order terms. Ultimately, they receive only 324 AAVE (~$37,600) in return for their $50 million, losing 99.9% of their assets in the process. The Aave founder offered to refund the user the $600,000 in fees collected from the transaction, and acknowledged "there are additional guardrails the industry can build to better protect users".

ALT $26.9 million erroneously liquidated on Aave after Chaos Labs oracle bug Users of the Aave defi lending protocol who had borrowed from the wstETH/stETH pool suffered erroneous liquidations when a price oracle from Chaos Labs reported an inaccurately low price ratio between the two assets. The oracle bug caused some loans to report that they were below the required "health factor" (the ratio between the assets loaned and the amount of collateral provided by the borrower), triggering forcible liquidations across the platform amounting to $26.9 million. Chaos Labs, presumably embarrassed to have lived up to its name, promised to reimburse users whose positions were improperly liquidated.

ALT Solv Protocol exploited for $2.7 million The Solv Protocol bitcoin defi lending and staking platform disclosed an exploit that they said affected fewer than ten users, but nevertheless netted the attacker 38 SolvBTC (a wrapped bitcoin token priced at $2.7 million). Although Solv has not disclosed specifics of the attack, some researchers have suggested it was a bug in the protocol's burn and mint functionality.

ALT Thief pilfers NFTs priced at $230,000 from Gondi A thief exploited a smart contract belonging to the Gondi NFT platform to steal 78 NFTs priced at $230,000. Perhaps the most shocking part of the theft is that the attacker managed to find NFTs still holding any value at all. Around half of the stolen NFTs were taken from a single wallet. According to Gondi, the exploiter took advantage of functionality that allowed users to sell their NFTs to automatically repay loans. Gondi has said it has reimbursed customers by buying them "comparable items" from the same collections as their stolen NFTs, although it seems questionable that this will satisfy customers who purchased products whose whole selling point is that they aren't interchangeable.