Gemini Hack

TOTAL LOST
Phishing

Summarize with AI

Affected Chain 2022 Incident surface
Recovered - No recovery reported
Same Technique 52 Total incidents
Protocol Type CEX Target category

Incident Overview

A Third-party phishing campaign that affected some customer data was performed on the Gemini users.

Some users have been targeted by a phishing attack.  This led to the collection of Gemini users' email addresses and phone numbers. Gemini claims that no account information or systems were impacted, and all funds and customer accounts remain secure.

Incident Report

Protocol / Project Gemini
Date of Incident
Attack Technique Phishing
Classification CeFi

Protocol Information

Protocol Type CEX
Official Website www.gemini.com/
Protocol Twitter/X @gemini
Team Public / Doxxed
Source Code Unverified

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 phishing and Solidity and EVM internals
Capital Required Seed capital to cover gas and initial position setup
On-Chain Access Ability to interact with smart contracts and deploy a custom exploit contract
Protocol Analysis Identification of the exploitable vulnerability in Gemini's contract logic - root cause: cefi
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 Phishing audit checklist and test coverage

If you're auditing a protocol with similar architecture to Gemini, these are the critical security checks that could have prevented this incident (December 2022).

  • Verify all logic paths related to Phishing are guarded by proper access controls and input validation - see the Phishing 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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Related Attack Classes

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

See all Phishing Attacks examples →

Sources & References

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