Markets
Share this article

Warp Finance Suffers Possible $8M Flash Loan Attack

The scheme has become common in the fast-growing DeFi sector.

By Kevin Reynolds
Updated Sep 14, 2021, 10:45 a.m. Published Dec 18, 2020, 2:37 a.m.
josep-castells-5Mh8iz9vqpY-unsplash

Decentralized finance (DeFi) platform Warp Finance was exploited for $8 million Thursday evening, possibly due to a flash loan attack, according to analysis portal DeFi Prime.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

  • The exploit appears to be a flash loan attack, DeFi Prime said, citing data from Etherscan. The scheme has become common in the fast-growing DeFi sector.
  • Flash loans allow users to borrow funds without collateralization because the lender expects the funds would be returned instantly.
  • Warp Finance, which enables users to deposit crypto tokens in exchange for stablecoin loans, said in a tweet it was experiencing problems.
  • "We are investigating irregular stablecoin loans taken out in the last hour, we recommend that you do not deposit anymore stablecoins until we have clarity on the irregularities," the platform tweeted.

See also: DeFi Exploits Can’t Be Pinned on Flash Loans, Industry Leaders Say

StablecoinsDeFiFlash Loansflash-loan-attackWarp Finance

More For You

Protocol Research: GoPlus Security

By CoinDesk Research
Nov 14, 2025
Commissioned byGoPlus
GP Basic Image

What to know:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
View Full Report

More For You

DOT Sinks 2% After Breaking Key Support

By CD Analytics, Will Canny|Edited by Oliver Knight
1 hour ago
"Polkadot price chart showing a 2.5% drop from $2.02 to $1.97 with increased trading volume."

The Polkadot token erased earlier gains amid elevated volume, falling from a high of $2.09 to $1.97.

What to know:

  • DOT collapsed through ascending trendline support around the $2.05 level on a massive 284% volume surge.
  • The token broke decisively below the support level to trade 2% lower over the last 24 hours.

Read full story