Security incident · 2024-08-12
PolyNetwork
According to the public DefiLlama incident dataset, PolyNetwork (PolyNetwork) suffered a security incident on 2024-08-12, with about $5.0M reported lost.
| Date | 2024-08-12 |
|---|---|
| Reported loss | $5.0M |
| Chain | PolyNetwork |
| Target type | DeFi Protocol |
| Technique class | Protocol Logic |
| Technique | Unknown |
| Bridge incident | Yes |
| Within 2024 | #41 by loss that year, 0.3% 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