Makina Finance hit by $4.2M DeFi hack, no response yet
5.8 Security Makina Finance lost 1,299 ETH ($4.1–$4.2M) in a flash loan exploit. The attacker used MEV to hide funds, now split between two wallets. No official statement has been released.
Makina Finance, a non-custodial DeFi platform, suffered a major security breach on January 20, 2026. The attack resulted in the loss of approximately 1,299 ETH, valued at $4.1–$4.2 million. The exploit specifically targeted the DUSD/USDC CurveStable liquidity pool, which was completely drained. Blockchain security firm PeckShield first reported the incident, noting that the attacker used a flash loan to manipulate prices and empty the pool. The stolen tokens were quickly converted into ETH and split between two wallets, holding about $3.3 million and $880,000, respectively. To obscure the transaction trail, the hacker routed the ETH through an MEV builder address—a common tactic in DeFi exploits. Makina Finance has yet to issue an official statement, and no exchange deposits of the stolen funds have been detected. The incident underscores ongoing concerns about DeFi protocol security and liquidity pool vulnerabilities.
