DeFi execution engine project Makina attacked: price manipulation vulnerability causes loss of 5.1 million USDC

TokenomicsTrapper · 2026-01-20T06:50:10+00:00

On January 20th, multi-chain DeFi execution engine Makina was hacked on the Ethereum mainnet, resulting in a direct loss of over 5.1 million USDC. The attacker exploited a price manipulation vulnerability, artificially inflating the value of liquidity provider assets to carry out arbitrage operations and transfer funds. This incident serves as a warning that DeFi projects face risks in price feeding and asset valuation processes, and users should choose audited and secure platforms.

TokenomicsTrapper

2026-01-20 06:50:10

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【Blockchain Rhythm】On January 20th, the multi-chain DeFi execution engine Makina was attacked on the Ethereum mainnet. According to monitoring data from BlockSec Phalcon, this incident resulted in a direct loss of over 5.1 million USDC.

The core principle of the attack is actually not complicated—hackers exploited a price manipulation vulnerability within the protocol. By artificially controlling the price signals of the liquidity pool, they inflated the apparent value of assets in the liquidity provider (LP) accounts. It was this inflated value difference that gave the attackers an opportunity, allowing them to transfer funds through arbitrage operations.

This type of incident reminds us that even DeFi projects focused on execution optimization are vulnerable in the price feeding and asset valuation stages. For users participating in DeFi, choosing platforms that have undergone thorough audits and risk management remains crucial.

USDC0,05%

ETH-3,25%

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NeverPresent

· 3h ago

Another price manipulation trap, DeFi still needs to be cautious. If the audits are not thorough, it really can't be played.

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ZKProofEnthusiast

· 3h ago

Price manipulation so basic that it allowed 5.1 million USDC to run away? How did Makina audit this...

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GasFeeDodger

· 3h ago

Another DeFi project has crashed. The way they fed the price into the vulnerability is truly incredible. How come the team couldn't even prevent this?

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GasFeeCrybaby