DeFi protocol Summer Finance suffers $6 million loss after attack.
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TRON DeFi Summer Drives Explosive Growth: USDD TVL on JustLend Has Exceeded $400 Million
PANews reported on July 7th that decentralized stablecoin USDD announced that within 48 hours of the launch of the TRON DeFi Summer event, it attracted over $100 million in net inflows, pushing USDD's TVL on JustLend past the $400 million mark, and its growth momentum continues to be strong. As previously reported, the TRON DeFi Summer officially launched on July 6th, with USDD, JustLend DAO, and Binance Wallet jointly launching a summer earning program. This event offers a total of $900,000 in rewards to participating users, running from now until August 5th at 07:59 (Singapore time). Users who purchase USDD through JustLend can enjoy the basic APY and participate in sharing a prize pool of 600,000 USDD.
Summer fi: The Lazy Summer attack is not a contract vulnerability, but rather an exploitation of the NAV mechanism.
PANews reported on July 8th that Summer.fi released an analysis report on the Lazy Summer Protocol USDC vault attack. On July 6th, attackers manipulated the prices of two USDC vault shares in a single atomic transaction, withdrawing approximately $6.04 million from depositors. The core of the attack lay in the way the vault's Net Asset Value (NAV) was calculated. The attackers donated tokens that still retained their old valuation to Silo Ark, which was suspended after the November 2025 incident but not yet fully removed. This caused the vault's total assets to inflate by approximately 9.5%, raising the share prices. They then redeemed the tokens at the inflated prices and withdrew funds from the vault's real liquidity. The report emphasizes that this attack was not due to a contract code vulnerability, but rather a missing step in the vault's decommissioning process—the Ark's deposit limit had been set to zero, but it was still being counted in the NAV within the active asset pool.
‘DeFi doesn’t exist anymore,’ just onchain finance: Andre Cronje
Flying Tulip founder Andre Cronje contends that DeFi protocols have evolved into a new financial paradigm of “onchain finance,” but have sacrificed some of their inherent immutability and decentralization.
Data shows that a whale previously bought $5.455 million worth of SK Hynix shares at a premium on Binance; if it still holds them, it would have a paper loss of $1.12 million.
According to Mars Finance, on-chain analyst @ai_9684xtpa reported that a whale bought $5.455 million worth of SK Hynix shares at a premium on Binance. If still holding, the whale would have suffered a paper loss of $1.12 million. The entry price was approximately $1,800.
Cronos Erased Two Hours of Transactions to Reverse $111 Million DeFi Exploit
The rollback reversed legitimate activity alongside the attack, while $9.19 million remains unrecovered, according to Cronos.
Six-Bug Exploit Halts Maya Protocol After $1.4 Million in Bitcoin Stolen
The cross-chain protocol said an attacker exploited six software flaws to drain Bitcoin and other assets, sending its CACAO token plunging.