Hack history / 2023 / Hack or exploit
Umami Finance
Hack or exploit on Feb 9, 2023 · Rug Pull
SOURCES AGREE ON DATE AND LOSS · 2 SOURCES
Lost
$380K
dollars at the time
Returned
none listed
as the sources state it
Rank
#1,241
among thefts by dollars lost
What happened
Umami Finance, a DeFi protocol on Arbitrum, offers yield products to institutional clients. On January 31, they announced they were suspending yields, saying they were concerned about regulatory tactics. Soon after, the project CEO started dumping tokens on the market, cashing out 44,000 UMAMI tokens. These were ostensibly priced at $800,000, and although the sell-off sent UMAMI prices crashing by more than 60%, the CEO still netted around $380,000 in USDC.
Details
- Date
- Feb 9, 2023
- Kind
- Hack or exploit
- Method
- Rug Pull
- How in
- Insiders: rug pulls, frauds, collapses
- Target
- not stated
- Chains
- Arbitrum, Ethereum
Reported by
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Cite this page
SwanBluechip, "Umami Finance hack, Feb 9, 2023: $380K lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/htcc51ef57e2/ (data as of 2026-10-31).