Hack history / 2021 / Hack or exploit
ValueDefi
Hack or exploit on May 7, 2021 · Arithmetic Error
ATTACK TX CONFIRMED ON CHAININ REVIEWSOURCES AGREE ON DATE AND LOSS · 5 SOURCES
Lost
$11M
sources: $10M to $11M
Returned
none listed
as the sources state it
Rank
#284
among thefts by dollars lost
What happened
ValueDefi custom-weighted pools drained on May 7, 2021. Uninitialized contracts lacked the 'initialized = true' flag, allowing attacker to re-initialize, set themselves as operator/owner, and drain vBWAP/BUSD LP tokens via governanceRecoverUnsupported().
In review: possible duplicate within one source.
Details
- Date
- May 7, 2021
- Kind
- Hack or exploit
- Method
- Arithmetic Error
- How in
- Smart contract bug
- Target
- DeFi protocol
- Chains
- BNB Chain, Ethereum
- Audit (rekt.news)
- unaudited
Related incidents
ValueDefi 2021 · Hack or exploit · $10M
ValueDefi 2020 · Hack or exploit · $7.4M
Compound V2 2021 · Hack or exploit · $147M
Uranium Finance 2021 · Hack or exploit · $50M
Pizza DeFi 2021 · Hack or exploit · $5M
ValueDefi 2020 · Hack or exploit · $7.4M
Compound V2 2021 · Hack or exploit · $147M
Uranium Finance 2021 · Hack or exploit · $50M
Pizza DeFi 2021 · Hack or exploit · $5M
Cite this page
SwanBluechip, "ValueDefi hack, May 7, 2021: $11M lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/htf76aa46f12/ (data as of 2026-10-31).