Question 1

What happened in the Thetanuts Finance exploit?

Accepted Answer

An attacker exploited a flaw in the redemption math of a deprecated Thetanuts Finance vault on Ethereum, draining approximately $2.1 million on June 15, 2026. PeckShield reported that around $2 million in option tokens were recovered by a whitehat, while the exploiter swapped about $105,000 in USDC for roughly 60 ETH.

Question 2

Are current Thetanuts Finance users affected?

Accepted Answer

No. Thetanuts Finance stated that the exploited vault was deprecated years ago and "has no relation to any of our current contracts or products," according to the team's post on X.

Question 3

What was the vulnerability that enabled the attack?

Accepted Answer

Security researcher ExVul identified the root cause as a flaw in the legacy vault's redemption math, which used a `backing * amount / totalSupply` formula to calculate share payouts, allowing the attacker to withdraw more funds than they were entitled to.

Thetanuts

Hackers hit deprecated Thetanuts vault for $2.1M

One sharp brief.
Every day.

Thetanuts

Hackers hit deprecated Thetanuts vault for $2.1M

One sharp brief.Every day.

One sharp brief.
Every day.