Crypto Market Under Attack: 12 Protocols Hit in Two Weeks

The cryptocurrency market has been hit with a series of attacks in recent weeks, following the high-profile $280 million Drift Protocol exploit on April 1.

Rhea Finance and Grinex exchange were among the latest targets, losing approximately $21 million combined. Rhea Finance reported that an attacker exploited a vulnerability in its Margin Trading feature, executing a coordinated pool manipulation attack against the Rhea Lend smart contract. CertiK estimated the loss at around $7.6 million.

The Drift Protocol exploit is believed to have involved North Korean-affiliated actors and used social engineering tactics. Similarly, Zerion's exploit also involved DPRK-affiliated groups using AI-assisted social engineering to extract credentials and funds.