Ethereum DeFi Platform Makina Hit by Flash‑Loan Oracle Manipulation, Drained ~1,299 ETH (~$4M)
first published 2026-01-20T05:50:34Z
Makina Finance, a non-custodial DeFi execution platform, was exploited when its DUSD/USDC CurveStable pool was drained for roughly 1,299 ETH (about $4.13–$4.2M). PeckShieldAlert reported the attacker converted the stolen assets into ETH, routed funds through an MEV builder to obfuscate the trail, and split proceeds into two wallets (~1,023 ETH and ~276 ETH). There is no evidence funds went to exchanges and Makina Finance has not publicly commented on user impact or recovery.
AI Analysis
The attacker drained ~1,299 ETH (~$4.13–$4.2M) from Makina’s DUSD/USDC Curve pool, converted proceeds to ETH, routed through an MEV builder, and split funds into two wallets; no funds were observed moving to exchanges and the protocol has not issued a public response.
Expected Investor Sentiment: Bearish
Potential Market Impact: Significant
Source Articles
- Makina Finance Suffers $4.2M Exploit as Hacker Drains Curve Pool - Coinpedia
- MakinaFi bulls face security reckoning as 1,299 ETH vanishes in exploit - Crypto News
- Makina loses $4.1 million in exploit tied to price-feed manipulation - CoinDesk
- Ethereum DeFi Platform Makina Hit by Flash Loan Exploit, Loses $4M in ETH - Decrypt