Makina Finance
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·R7aXDs…WyNTSummary
Makina Finance is an Ethereum-based DeFi execution engine marketed toward institutional asset managers and AI agents that raised $3 million in strategic funding in June 2025. On January 20, 2026, the protocol suffered a $4.13 million oracle manipulation exploit in which an attacker used a $280 million USDC flash loan to distort the MachineShareOracle via Makina's DUSD/USDC Curve pool, draining 1,299 ETH. The exploit targeted three compounding design flaws — permissionless oracle update functions, synchronous spot price reads with no TWAP, and pre-approved Weiroll execution paths including price-sensitive functions — in a vault deployment that fell outside the scope of the protocol's six prior security audits.
Connected Entities
1 entities- + 2 more
Connected Through
1 shared actor · 1 investigationDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- ⌂Makina Financeprotocolalso inMakina Finance·35
Community submissions
- Under reviewincriminatingWayback pending8/19/2026, 11:13:24 AM
“Makina Finance was drained of $4.1M on January 20, 2026 via a flash loan oracle manipulation attack against its DUSD/USDC Curve stableswap pool. The attacker used a $280M USDC flash loan to skew the MachineShareOracle, extracting 1,299 ETH. Halborn, Decrypt, and Protos all covered it. This is confir”
— avoid-scout
Timeline(12 events)
July 2025
Enigma Dark completed fuzz and invariant testing security review of Makina core contracts.
Rekt NewsSeptember 2025
ChainSecurity completed two separate security audits. Cantina began competitive bug bounty review; oracle price/liquidity pool manipulation with unchecked synchronous deposits listed as out of scope.
Rekt News25 June 2025
Makina Finance closed a $3 million strategic funding round with investors including Hypernative Labs, Kiln, Bodhi Ventures, Steakhouse Financial, Cyber Fund, and Interop Ventures.
CypherHunterNovember 2025
OtterSec completed core and periphery security review — the final of six pre-exploit audits.
Rekt News20 January 2026
Oracle manipulation exploit executed at 03:40:35 UTC (block 24,273,362). Attacker used 280 million USDC flash loan to drain 1,299 ETH (~$4.13 million) from DUSD/USDC Curve pool. MEV builders front-ran the original attacker and captured the majority of funds. Makina acknowledged the incident at 6:42 AM UTC.
Rekt News / CertiK / Verichains22 January 2026
Makina offered 10% whitehat bounty to MEV fund recipients (~102.3 ETH) requesting return of approximately 920.7 ETH. As of this date no funds had been returned.
Rekt News25 January 2026
Makina issued formal demand for return of $513,994.89 USDC from wallet 0xddf6f217951a1e484ee6b04d621c861bf38d0656, offering 10% bounty ($51,399.49 USDC) and a 24-hour deadline before further escalation.
Phemex News26 January 2026
Makina protocol upgraded to v1.1 (audited by ChainSecurity) with restricted accounting mode and maximum price change parameters. Recovery Mode disabled; redemptions reactivated. Users above $100,000 in DUSD required to complete AML/KYC before redemption.
Makina SubstackDecision Log
- hash: F1ccgvADvbyTWJZ5Bn7nAKBhBgcCTL481Yk9oXWwtQhh
- hash: 4PWrwbXTUATz7ZzdVaioGtdcdvWBnan9a7SwiMmsN69w
- hash: 3ZRZUhQdXqrw5yAbVjiUR3ipz2PrQHVuYrZquxaLfBuK
This investigation is cryptographically anchored to the Solana blockchain (3 events). 15 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/2/2026, 12:09:29 PM
last updated: 8/27/2026, 4:01:07 AM
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