- Makina lost about $5 million after a flash loan attack targeted the DUSD liquidity pool on Curve Finance.
- The attacker extracted 1,299 ether (about $4 million) to an address labeled MEV Builder, with most funds moved to a separate holding address.
- Blockchain auditor BlockSec attributed the $5.1 million loss to using the pool’s spot price when valuing LP assets.
- Security firm PeckShield reported an MEV bot may have front-run the original exploit.
- A separate earlier incident hit SynapLogic, causing a reported $186,000 loss but limiting the attacker’s profit to about $88,000 because tokens could not be sold.
Makina confirmed a hack that affected its DUSD liquidity provider (LP) positions on Curve Finance, occurring early on January 20, 2026. The project said the issue was limited to the DUSD Curve pool and advised users to withdraw funds. See the Makina statement.
The on-chain attack transaction moved 1,299 ether (about $4 million) into an address labeled MEV Builder, with most funds later sent to a separate holding address.
Makina posted an on-chain message to the holder asking for return of the funds, offering a 10% bounty.
Analysis from BlockSec put the total loss at about $5.1 million USDC and identified the root cause as relying on the pool’s spot price when calculating LP asset value. BlockSec said the attacker used a flash loan — a short-term loan executed within one transaction to create temporary capital — to perform repeated large swaps and manipulate the LP share price.
Security watcher PeckShield reported that an MEV bot (a bot that seeks profitable transaction ordering opportunities) appears to have front-run the original exploit.
Earlier the same night, SynapLogic on the Base Network suffered a separate incident. Transaction data and BlockSec say a faulty validation allowed a loss of about $186,000, while researcher Weilin Lu reported the minted SYP tokens cannot be sold, limiting the attacker’s realized profit to roughly $88,000.
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