Jun 12, 2025
Analyzing the Cork Protocol Exploit: Lessons for DeFi Security
On May 28, 2025, the decentralized finance (DeFi) ecosystem experienced another significant security incident. Cork Protocol, a platform designed to enable users to hedge against the depegging of assets such as stablecoins and liquid staking tokens, was subjected to a sophisticated exploit. This attack resulted in the loss of approximately $12 million in wrapped staked Ether (wstETH). This incident, while unfortunate, provides valuable insights into the persistent vulnerabilities within permissionless DeFi architectures and highlights the ongoing need for robust security measures.
.png)
.png)
.png)
.png)