Makina Protocol has been exploited for approximately 1,299 ETH ($4.13 million), according to onchain security analysts.
Blockchain security firm PeckShield reported that the attacker was front-run by an MEV builder address. The stolen funds are currently held across two wallets with ~$3.3M and ~$880K on each.
Makina confirmed the incident on X and stated the exploit appears limited in scope.
“At this stage, the issue appears to be isolated to DUSD LP positions on Curve. There is currently no indication that other assets or deployments are affected,” the team said.
The protocol added that nderlying assets held in the Machines remain unaffected. As a precaution, Makina said it has activated security mode across all Machines while the team continues to assess the situation.
Recommended action
Makina urged liquidity providers to take immediate precautionary steps:
“We strongly advise LPs in the DUSD Curve pool to remove their liquidity.”
The team said its immediate focus is determining the full scope of the incident and the appropriate next steps for affected users and LPs, with further updates expected once the review is completed.
What is Makina Protocol?
Makina positions itself as a non-custodial DeFi execution layer, offering users exposure to advanced onchain strategies with built-in risk controls. The protocol highlights several key features:
– Risk management tools aimed at limiting concentration risk – An execution engine supporting AI agents for complex DeFi strategies – Atomic execution mechanisms designed to enable instant position unwinds during emergencies – Makina has not yet disclosed a detailed post-mortem, and the attacker’s next moves remain unknown.
This is a developing story and will be updated as more information becomes available.
