Hack history / 2025 / Hack or exploit
Demex
Hack or exploit on May 16, 2025 · Spot Price Manipulation
SOURCES AGREE ON DATE AND LOSS · 2 SOURCES
Lost
$951K
dollars at the time
Returned
none listed
as the sources state it
Rank
#956
among thefts by dollars lost
What happened
Demex's Nitron lending market was exploited via donation-based oracle manipulation targeting a deprecated dGLP vault. An attacker donated a small amount of fsGLP to inflate the GLP redemption rate, which Nitron's oracle accepted as accurate pricing for dGLP. The attacker then used the falsely inflated dGLP value as collateral to borrow legitimate assets.
Details
- Date
- May 16, 2025
- Kind
- Hack or exploit
- Method
- Spot Price Manipulation
- How in
- Price, oracle and governance
- Target
- DeFi protocol
- Chains
- Arbitrum
Reported by
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Sirio Finance 2025 · Hack or exploit · $2M
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Odin.Fun 2025 · Hack or exploit · $7M
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Cite this page
SwanBluechip, "Demex hack, May 16, 2025: $951K lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/htb242e01e88/ (data as of 2026-10-31).