BNB Chain’s NGP Exploit Wipes Out $2M, Token Crashes 88%
A fresh DeFi exploit has rattled the BNB Chain ecosystem after New Gold Protocol (NGP) lost around $2 million in a single attack.
The breach hammered the project’s native token, which plunged nearly 90% within hours.
Investigators say the incident stemmed from a vulnerability in NGP’s price oracle. Instead of aggregating prices, the system relied on a single liquidity pool.
Attackers exploited this by deploying a flash loan to distort reserves, forcing the oracle to register an artificial price. That loophole let them scoop up tokens at a fraction of their value before cashing out.
The stolen funds were quickly laundered through Tornado Cash, according to PeckShield. Blockaid, another security firm, said the design flaw – a dependence on instant readings from one DEX pool – made the exploit possible.
This is not an isolated case. Just days ago, Nemo Protocol on the Sui network lost $2.6 million to a nearly identical strategy. Chainalysis reports that thefts across crypto platforms topped $2 billion in the first half of 2025, already surpassing previous years.
For NGP, the flash loan exploit raises fresh doubts about DeFi security practices. For the wider market, it’s another reminder that vulnerabilities in oracle design remain one of the easiest ways for attackers to drain liquidity.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
