How much was lost in the Dexible V2 hack?

The Dexible V2 hack resulted in $2.0M in losses on February 20, 2023.

What attack technique was used in the Dexible V2 exploit?

The Dexible V2 exploit utilized Arbitrary External Call. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

Dexible V2 Hack

TOTAL LOST $2.0M

Medium Feb 20, 2023 Arbitrary External Call arbitrum ethereum

Affected Chain arbitrum 2 chains affected

Recovered - No recovery reported

All-Time Rank #633 By amount stolen

Auditors 1 Prior security audit

Incident Overview

DeFi's execution management system. Dexible is a DEX aggregator that also provides algo and automated order types normally only seen in CeFi.

This is classified as a Delegatecall & Call Injection Attacks . Compare similar hacks →

Incident Report

Protocol / Project Dexible V2

Date of Incident February 20, 2023

Affected Chain(s) arbitrum ethereum

Attack Technique Arbitrary External Call

Classification Protocol Logic

Primary Source View Post-Mortem

Protocol Information

Protocol Type DEX Aggregator

Smart Contract Language Solidity

Protocol Twitter/X @DexibleApp

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Deep understanding of arbitrary external call and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with arbitrum, ethereum smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in Dexible V2's contract logic - root cause: protocol logic

Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block

Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Likely — with a thorough Arbitrary External Call audit checklist and test coverage

Audited by Audit Report 1 — still lost $2.0M. Prior audits don't guarantee safety, especially after post-audit code changes.

If you're auditing a protocol with similar architecture to Dexible V2, these are the critical security checks that could have prevented this incident (February 2023).

Verify all logic paths related to Arbitrary External Call are guarded by proper access controls and input validation - see the Delegatecall & Call Injection Attacks attack class for patterns
Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

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Security Audit History

Audit Report 1 Report

Related Attack Classes

The technique used in this hack maps to these vulnerability classes in our security curriculum:

See all Delegatecall & Call Injection Attacks examples →

Delegatecall & Call Injection Attacks

Proof-of-Concept Exploits

1 PoC available

poc-exploits - dexible v2

$ Dexible Arbitrary External Call Vulnerability

On-Chain Evidence & References

Twitter/X Alert https://twitter.com/peckshield/status/1626493024879673344
Twitter/X Alert https://twitter.com/MevRefund/status/1626450002254958592

Sources & References

01
Source 1 https://twitter.com/RektHQ/status/1628030868043300865

Threat Assessment

Severity Level

MEDIUM

Attack Vector Arbitrary External Call
Root Cause Protocol Logic
Year 2023

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