Summer Finance drained for $6M in DAI exploit
The DeFi lending protocol lost just over $6M in a single exploit, the latest in a string of mid-cap DeFi venues taken down by attackers in 2025.
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The DeFi lending protocol lost just over $6M in a single exploit, the latest in a string of mid-cap DeFi venues taken down by attackers in 2025.
The on-chain trail is live: a known exploit wallet converted stablecoin proceeds into ETH at $1,764 average and is actively mixing through Tornado Cash, making recovery increasingly unlikely.
The move lands with ETH down 24% on the week and trading below $1,600 — and is the latest in a string of disclosed selling by named Ethereum holders.
The hacker behind the Pando Rings exploit has made an unexpected move: spending 10 million DAI to accumulate 6,243 ETH…