DeFi protocols lose $38.9M in January exploits
The Goledo team experienced the latest loss of $1.7 million but has set out its compensation process for its users’ asset recovery.
Quantstamp, a decentralized finance (DeFi) security startup, has identified the top five smart contract protocols that suffered the most losses from exploits and hackers in January.
In a post on X social media platform, Quantstamp highlighted that the actions of bad actors, using various attack methods like smart contract hacks, key compromises, and scams, resulted in a total loss of $38.9 million.
Gamma Strategies faced a flash loan attack on Jan 4, hours after the Radiant attack, resulting in a code bug that enabled attackers to siphon $6.1 million from Gamma’s public-facing vaults. To address the issue, Gamma temporarily halted deposits, closing the vulnerability.
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