Security incident · 2025-11-22
Raga Finance
According to the public DefiLlama incident dataset, Raga Finance (Hyperliquid L1) suffered a security incident on 2025-11-22, with about $19K reported lost.
| Date | 2025-11-22 |
|---|---|
| Reported loss | $19K |
| Chain | Hyperliquid L1 |
| Target type | DeFi Protocol |
| Technique class | Protocol Logic |
| Technique | Unknown |
| Bridge incident | No |
| Within 2025 | #140 by loss that year, 0.0% of all reported losses that year |
How this kind of attack works
The protocol's own rules had a flaw, for example in how rewards, liquidations or swaps were calculated, and the attacker followed those rules to drain funds.
Would a pre-payment check have helped
Protocol logic flaws call for audits and formal verification.
Other incidents with the same technique
- Alpha Finance2021-02-13 · $37.5M
- MonoX2021-11-30 · $31.4M
- Popsicle Finance2021-08-03 · $20.7M
- BearnFi2021-05-17 · $18.0M
- Abracadabra Spell2025-03-25 · $13.0M
- Saddle Finance2022-04-30 · $11.0M