Drift Protocol Incident: Multisig Governance Compromise via Durable Nonce Exploitation

On April 1, 2026 (UTC), Drift Protocol on Solana suffered a $285.3M loss after an attacker exploited Solana's durable nonce mechanism to delay the execution of phished multisig approvals, ultimately transferring administrative control of the protocol's 2-of-5 Squads governance with zero timelock. With full admin privileges, the attacker created a malicious collateral market (CVT), inflated its oracle price, relaxed withdrawal protections, and drained USDC, JLP, SOL, cbBTC, and other assets through 31 rapid withdrawals in approximately 12 minutes. This incident highlights how durable nonce-based delayed execution can decouple signer intent from on-chain execution, bypassing the temporal assumptions that multisig security implicitly relies on.

Weekly Web3 Security Incident Roundup | Mar 23 – Mar 29, 2026

This BlockSec weekly security report covers eight DeFi attack incidents detected between March 23 and March 29, 2026, across Ethereum and BNB Chain, with total estimated losses of approximately $1.53M. Incidents include a $679K flawed burn mechanism exploit on the BCE token, a $512K spot-price manipulation attack on Cyrus Finance's PancakeSwap V3 liquidity withdrawal, a $133.5K flash-loan-driven referral reward manipulation on a TUR staking contract, and multiple integer overflow, reentrancy, and accounting error vulnerabilities in DeFi protocols. The report provides detailed vulnerability analysis and attack transaction breakdowns for each incident.

Newsletter - March 2026

In March 2026, the DeFi ecosystem experienced three major security incidents. Resolv Protocol lost ~$80M due to compromised privileged infrastructure keys, BitcoinReserveOffering suffered ~$2.7M from a double-minting logic flaw, and Venus Protocol incurred ~$2.15M following a donation attack combined with market manipulation.

FATF’s New Stablecoin Report Signals a Shift to Secondary-Market Compliance

BlockSec interprets FATF’s March 2026 report on stablecoins and unhosted wallets, explains why supervision is shifting toward secondary-market P2P activity, breaks down the report’s main recommendations and red flags, and shows how on-chain monitoring, screening, and cross-chain tracing can help issuers and VASPs respond with stronger, more effective compliance controls.

Weekly Web3 Security Incident Roundup | Mar 16 – Mar 22, 2026

This BlockSec weekly security report covers seven DeFi attack incidents detected between March 16 and March 22, 2026, across Ethereum, BNB Chain, Polygon, and Polygon zkEVM, with total estimated losses of approximately $82.7M. The most significant event was the Resolv stablecoin protocol's infrastructure-key compromise, which led to over $80M in unauthorized USR minting and cross-protocol contagion across lending markets. Other incidents include a $2.15M donation attack combined with market manipulation on Venus Protocol, a $257K empty-market exploit on dTRINITY (Aave V3 fork), access control vulnerabilities in Fun.xyz and ShiMama, a weak-randomness exploit in BlindBox, and a redemption accounting flaw in Keom.

Weekly Web3 Security Incident Roundup | Mar 9 – Mar 15, 2026

This BlockSec weekly security report covers eight DeFi attack incidents detected between March 9 and March 15, 2026, across Ethereum and BNB Chain, with total estimated losses of approximately $1.66M. Incidents include a $1.01M AAVE incorrect liquidation caused by oracle misconfiguration, a $242K exploit on the deflationary token MT due to flawed trading restrictions, a $149K exploit on the burn-to-earn protocol DBXen from `_msgSender()` and `msg.sender` inconsistency, and a $131K attack on AM Token exploiting a flawed delayed-burn mechanism. The report provides detailed vulnerability analysis and attack transaction breakdowns for each incident.

Building a Secure Stablecoin Payment Network: BlockSec Partners with Morph

BlockSec has partnered with Morph as an official audit partner for the $150M Morph Payment Accelerator. By offering exclusive discounts on smart contract audits and penetration testing, BlockSec provides institutional-grade security to payment builders, ensuring a safe and resilient foundation for the future of global stablecoin payments.

Venus Thena (THE) Incident: What Broke and What Was Missed

On March 15, 2026, an attacker bypassed the THE (Thena) supply cap on Venus Protocol (BNB Chain) through a donation attack, inflating a collateral position to 3.67x the intended limit and borrowing ~$14.9M in assets. Both sides lost money on-chain: Venus was left with ~$2.15M in bad debt after 254 liquidation bots competed across 8,048 transactions, while the attacker retained only ~$5.2M against a $9.92M investment. This deep dive examines what broke across three lines of defense (exposure limits, collateral valuation, and liquidation) and the monitoring gaps that left months of on-chain warning signals unacted upon.

Tether Freezes $6.76M USDT Linked to Iran's IRGC & Houthi Forces: Why On-Chain Compliance is Now a Geopolitical Battlefield

Looking ahead, targeted freezing events like this $6.76M USDT action will only become more common. On-chain data analysis is improving. Stablecoin issuers are also working closely with regulators. As a result, hidden illicit financial networks will be exposed.

Weekly Web3 Security Incident Roundup | Mar 2 – Mar 8, 2026

During the week of March 2 to March 8, 2026, seven blockchain security incidents were reported with total losses of ~$3.25M. The incidents occurred across Base, BNB Chain, and Ethereum, exposing critical vulnerabilities in smart contract business logic, token deflationary mechanics, and asset price manipulation. The primary causes included a double-minting logic flaw during full token deposits that allowed an attacker to exponentially inflate their balances through repeated burn-and-mint cycles, a price manipulation vulnerability in an AMM-based lending market where artificially inflated vault shares created divergent price anchors to incorrectly force healthy positions into liquidation, and a flawed access control implementation relying on trivially spoofed contract interfaces that enabled attackers to bypass authorization to batch-mint and dump arbitrary tokens.

Weekly Web3 Security Incident Roundup | Feb 23 – Mar 1, 2026

During the week of February 23 to March 1, 2026, seven blockchain security incidents were reported with total losses of ~$13M. The incidents affected multiple protocols, exposing critical weaknesses in oracle design/configuration, cryptographic verification, and core business logic. The primary drivers included oracle manipulation/misconfiguration that led to the largest loss at YieldBloxDAO (~$10M), a crypto-proof verification flaw that enabled the FOOMCASH (~$2.26M) exploit, and additional token design and logic errors impacting Ploutos, LAXO, STO, HedgePay, and an unknown contract, underscoring the need for rigorous audits and continuous monitoring across all protocol layers.

Newsletter - February 2026

February 2026 saw three major DeFi security incidents: YieldBlox DAO lost ~$10M due to oracle price manipulation, IoTeX’s ioTube bridge suffered ~$4.4M from a private key compromise, and CrossCurve incurred ~$2.8M after a cross-chain validation bypass.