$17M Drained: Axie Co-Founder, Abracadabra, Goledo, and Citadel Exploited
Jihoz lost $8.4M after hot wallet access was compromised. Abracadabra bled $6.5M due to a rounding error that zeroed debt but left base intact. Goledo was manipulated for $1.7M via a thin-market pump. Citadel Finance’s $93K hit came from flash-loaned price manipulation. From arithmetic edge cases to plain key theft, the exploits continue to outpace basic assumptions.
In Brief
Axie Infinity’s Co-Founder, Jihoz, lost $8.4M.
Abracadabra lost $6.5M due to a rounding error.
Goledo Finance was exploited for $1.7M.
Citadel Finance suffered a $93K loss due to price manipulation.
Hacks Analysis
Jihoz | Amount Lost: $8.4M
On February 23rd, Jihoz, the co-founder of Axie Infinity, fell victim to a $8.4M hack. The attacker gained unauthorized access to two of Jihoz’s hot wallets on the Ethereum Mainnet and drained 2,790 ETH. Subsequently, the attacker transferred the stolen assets to Tornado Cash. Jihoz stated that the exploit was an isolated incident and confirmed that Ronin Chain and Sky Navis wallets are safe.
On January 30th, the Abracadabra exploit on the Ethereum Mainnet resulted in a $6.5M loss. The root cause of the hack was a rounding error in Abracadabra’s Cauldrons V3 and V4 contracts. The attacker initially utilized flash loans to deposit into BentoBox, manipulating the asset-to-share ratio. When the attacker borrowed and repaid 1 wei, the totalBorrow.elastic value would be set to zero. However, a rounding error allowed totalBorrow.base to remain an integer. This vulnerability enabled the attacker to borrow 1 wei of the asset and mint an artificially inflated share amount.
On January 28th, the Goledo Finance exploit on the Conflux Network resulted in a $1.7M loss. The attacker borrowed 11M of CFX tokens and used these funds to purchase 24.6M PPI tokens. This transaction artificially inflated the PPI token’s price, allowing the attacker to secure profits. Goledo Finance acknowledged the incident and subsequently froze the exploiter’s 7.97M CFX.
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Exploit Contract (on Conflux Network): 0x9aebA63d77d25C95dadD057db74741517862F360
On January 27th, the Citadel Finance exploit on the Arbitrum chain resulted in a $93K loss. The attacker used flash loans and deposited the funds into Citadel Finance’s Camelot liquidity pool, artificially inflating the USDC.e token’s price and enabling the attacker to gain profits. The Citadel Finance team reported the recovery of nearly half of the stolen assets.
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Exploit Contract (on Arbitrum Chain): 0x34b666992fcce34669940ab6b017fe11e5750799
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Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
In Brief
Remitano suffered a $2.7M loss due to a private key compromise.
GAMBL’s recommendation system was exploited.
DAppSocial lost $530K due to a logic vulnerability.
Rocketswap’s private keys were inadvertently deployed on the server.
Hacks
Hacks Analysis
Huobi | Amount Lost: $8M
On September 24th, the Huobi Global exploit on the Ethereum Mainnet resulted in a $8 million loss due to the compromise of private keys. The attacker executed the attack in a single transaction by sending 4,999 ETH to a malicious contract. The attacker then created a second malicious contract and transferred 1,001 ETH to this new contract. Huobi has since confirmed that they have identified the attacker and has extended an offer of a 5% white hat bounty reward if the funds are returned to the exchange.
