Incident Overview
Haven Protocol (XHV) suffered three serious attacks in late June, leading to the minting of 203,000 xUSD, 13.5 xBTC, an unknown amount of XHV, and 9 million xUSD.
Haven Protocol, a privacy-centric DeFi protocol based on Monero, was subjected to three major attacks in late June. The first two attacks on June 24 resulted in the minting of 203,000 xUSD and 13.5 xBTC. On June 27, a vulnerability in the conversion verification of xAsset allowed an unknown amount of XHV to be minted.
The final attack on June 29 exploited a vulnerability that enabled the minting of 9 million xUSD. In response to these attacks, the chain initiated a rollback and implemented a hard fork to fix the known vulnerabilities in protocol minting.
Incident Report
Protocol Information
Market Context at Time of Hack
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.
What Auditors Should Check
If you're auditing a protocol with similar architecture to Haven Protocol, these are the critical security checks that could have prevented this incident (July 2021).
- Verify all logic paths related to Other are guarded by proper access controls and input validation
- 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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