Share this article
Ethereum Lending Protocol XCarnival Hit With $3.8M Exploit, Recovers 50%
The DeFi protocol persuaded a hacker to return $1.9 million.
Updated May 11, 2023, 5:40 p.m. Published Jun 27, 2022, 10:31 a.m.
XCarnival, a platform based on the Ethereum blockchain that acts as a lending aggregator for NFTs (non-fungible tokens), has recovered 50% of the $3.8 million it lost in an exploit.
- A hacker exploited a smart contract flaw that allowed a pledged asset to also be used as collateral, in this case a Bored Ape Yacht Club NFT.
- The vulnerability was exploited in multiple transactions over a short period of time at 12:03 UTC on Sunday, with the hacker siphoning 3,087 ethers (ETH).
- "XCarnival was attacked on June 26, 2022 and suspended part of the protocol," the Singapore-based company wrote on Twitter.
- "Currently our smart contract has been suspended, all deposit and borrowing actions are temporarily not supported, please stay tuned, we will confirm the situation as soon as possible," it said.
- The XCarnival team offered the hacker a 1,500 ETH bounty, an offer that seemingly been accepted after a wallet tagged as "XCarnival Exploiter" sent 1,467 ETH to the affected wallet, according to Etherscan.
- According to the protocol's website, total value locked stands at 2992.05 ETH for borrows and 3014.69 ETH for supply.
More For You
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.
More For You
JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
What to know:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on the Solana blockchain, one of the first of its kind in the U.S.
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033.
Top Stories
