DFX V2

avoid.net/dfx-v2→28/100·82% conf.

[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

28/100

[WARNING]82% conf.

Summary

DFX Finance is a decentralized foreign exchange protocol optimized for trading fiat-backed stablecoins such as CADC, EURS, and XSGD, backed by investors including Polychain Capital. On November 10, 2022, the V2 smart contracts were exploited via a reentrancy vulnerability in the flash loan function, resulting in approximately $7.5 million in total losses split between a primary attacker (~$4.3M) and an MEV front-running bot (~$3.2M). The stolen funds were funneled into Tornado Cash; the protocol subsequently paused all contracts, launched a DFX-token reimbursement plan, and later released V3, but TVL remains near zero as of 2024.

Connected Entities

1 entities · 10 linked investigations

Organizations

□DFX V2

Relationships

Also appears in

edgeX Exchange·28 Saga EVM Blockchain·32 Mach-O Man Malware Campaign (Lazarus / Chollima)·0 Gamma Strategies·28 Alephium Bridge·18 Bunni Protocol·28 BitGrail·2 Lulo·55 Thorchain DEX·28 Crossmint·70

Have evidence about DFX V2?

Timeline(9 events)

2021-02-01

DFX Finance raises $5 million seed round led by Polychain Capital and True Ventures.

The Block

2021-01-01

DFX Finance protocol launches on Ethereum mainnet.

DFX Finance Official Docs

2022-09-01

PickAx completes a security audit of DFX V2 smart contracts; the reentrancy vulnerability in the flash loan function is not identified.

DFX Finance GitHub

2022-11-10

DFX Finance V2 exploited via reentrancy attack; attacker wallet 0x14c19962e4a899f29b3dd9ff52ebfb5e4cb9a067 extracts approximately $4.3 million. MEV bot front-runs the attack and extracts an additional $3.2 million. Total losses: approximately $7.5 million.

QuillAudits / Halborn

2022-11-10

DFX Finance team pauses all smart contracts on Ethereum and Polygon within 20-30 minutes of detecting the attack.

BeInCrypto

2022-11-11

Primary attacker begins routing stolen ETH through Tornado Cash to obscure the transaction trail. DFX token price falls more than 33% within 24 hours.

DailyCoin

2023-01-19

Community reimbursement proposal activated: affected users receive 1 DFX per $1 lost, distributed over three years via Sablier streaming.

DFX Finance Official Docs

2023-02-01

DFX Finance relaunches with improved V2 smart contracts following post-hack security remediation.

CoinMarketCap

2024-03-18

DFX token reaches post-hack all-time high of approximately $1.64.

CoinMarketCap

Provenance & Audit Trail

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