Shibarium, Odin.fun, Coinbase: $9.95M Lost to Validator Capture, Pool Math, and Wallet Misconfig
Three wildly different systems, one shared failure mode: unchecked control paths. Shibarium’s validator game was stake-to-steal. Odin.fun forgot that pools lie without oracles. And Coinbase? One misconfigured approval leaked $550K to an MEV bot. Every design makes assumptions — these three just learned what theirs cost.
In Brief
Shibarium lost $2.4M after an attacker took over validator control.
Odin.fun lost $7M due to price manipulation.
Coinbase lost $550K after its misconfigured Fee wallet approved 0x’s Settler contract.
Hacks Analysis
Shibarium | Amount Lost: $2.4M
On September 12th, the Shibarium exploit on the Ethereum mainnet resulted in a $2.4M loss. The root cause of the attack was that the attacker was able to control the majority of the validator signing keys to drain ETH and Shib tokens. The attacker was able to get control of the keys because the validator voting power on the network is determined by the amount of BONE token staked. By staking 4.6M BONE tokens, the attacker gained the validator control and was able to execute the withdrawals.
On August 12th, the Odin.fun exploit resulted in a $7M loss due to a price manipulation attack. The attacker first deposited SATOSHI tokens into the BTC pool. Then traded those tokens against Bitcoin in the same pool. Because the pool priced assets only by the ratio of tokens inside it (with no external price checks), every swap reduced the visible BTC share and made SATOSHI tokens appear more valuable. The attacker then removed their liquidity and made a profit. The attacker later manipulated the ODINPEPE price as well.
On August 13th, the Coinbase exploit on the Ethereum mainnet resulted in a $550K. The root cause of the exploit was a configuration error where Coinbase’s Fee wallet mistakenly granted ERC-20 approvals to 0x’s Mainnet Settler contract, a permissionless executor. An MEV bot detected the approvals and immediately called the Settler contract to drain tokens. The bot later swapped the stolen assets through Uniswap routes into ETH.
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Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
Follow-up: Conduct a follow-up review to ensure that the remediation steps were effective and that the smart contract is now secure.
In Brief
Remitano suffered a $2.7M loss due to a private key compromise.
GAMBL’s recommendation system was exploited.
DAppSocial lost $530K due to a logic vulnerability.
Rocketswap’s private keys were inadvertently deployed on the server.
Hacks
Hacks Analysis
Huobi | Amount Lost: $8M
On September 24th, the Huobi Global exploit on the Ethereum Mainnet resulted in a $8 million loss due to the compromise of private keys. The attacker executed the attack in a single transaction by sending 4,999 ETH to a malicious contract. The attacker then created a second malicious contract and transferred 1,001 ETH to this new contract. Huobi has since confirmed that they have identified the attacker and has extended an offer of a 5% white hat bounty reward if the funds are returned to the exchange.
