Cork Protocol Suffers $12 Million Smart Contract Exploit

A major security breach at the Cork Protocol platform has resulted in a staggering $12 million loss, impacting the wstETH token. The incident marks another high-profile DeFi attack and raises concerns about decentralized finance’s vulnerabilities. 3,760+ wstETH tokens were stolen through unauthorized access to the protocol’s smart contract on May 28th, 2025. These funds have been swapped for approximately 4,530 ETH. The incident underscores a need for more robust security measures in the DeFi space.