Cork Protocol Bleeds $12M in DeFi Smart Contract Hack—Another ’Code Is Law’ Wake-Up Call

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2025-05-28 14:25:43

DeFi Platform Cork Protocol Suffers $12M Smart Contract Exploit

DeFi’s promise of unstoppable finance just got stopped—hard. Cork Protocol joins the growing graveyard of protocols drained by smart contract exploits, this time to the tune of $12 million.

How it happened: Attackers found a crack in the protocol’s logic, turning DeFi’s composability against itself. The usual post-mortem promises of ’enhanced security measures’ are already rolling in—just like last time. And the time before that.

The irony? This happened while traditional finance was busy patting itself on the back for ’containing’ another regional bank failure. At least in crypto, the thieves innovate faster than the bankers.

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