How much was lost in the Multi Financial hack?

The Multi Financial hack resulted in $258K in losses on February 01, 2021.

What attack technique was used in the Multi Financial exploit?

The Multi Financial exploit utilized Rugpull. 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.

Multi Financial Hack

TOTAL LOST $258K

Low Feb 01, 2021 Rugpull

Affected Chain 2021 Incident surface

Recovered - No recovery reported

All-Time Rank #1197 By amount stolen

Protocol Type Options Target category

Incident Overview

According to Binance Smart Chain investors, Multi Financial fled on February 1st, taking approximately 5000 BNB in one day. The compromised investor alleged that it had notified to the police and Binance had banned the project party's address.

Incident Report

Protocol / Project Multi Financial

Date of Incident February 01, 2021

Attack Technique Rugpull

Classification CeFi

Primary Source View Post-Mortem

Protocol Information

Protocol Type Options

Official Website www.delta.finance

Protocol Twitter/X @Delta_Token

Team Anonymous

Source Code Unverified

Market Context at Time of Hack

Token Categories

Memes BNB Chain Ecosystem

Protocol Links

Discord

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 rugpull 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 Multi Financial'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? Hard to catch — private key / OpSec failures are outside smart contract audit scope

If you're auditing a protocol with similar architecture to Multi Financial, these are the critical security checks that could have prevented this incident (February 2021).

Verify all logic paths related to Rugpull 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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Sources & References

01
Source 1 https://hacked.slowmist.io/

Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause CeFi
Year 2021

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