On December 2023, PHIL was exploited in a business logic flaw on BNB Chain, resulting in approximately $2 in losses. That makes the PHIL exploit the 470th largest DeFi incident out of 690 documented in our archive.
Attack Mechanics: How the PHIL Business Logic Flaw Played Out
Exploit Class Applied to PHIL
The PHIL incident on December 14, 2023 is classified as a Business Logic Flaw. A business-logic bug in the contract — such as an incorrect formula or missing state update — lets the attacker withdraw more than their share. In the full archive, PHIL is 1 of 144 documented business logic flaw incidents.
PHIL in Context
At $2, the PHIL exploit is a minor (<$1M) event compared to the largest same-class incident in our archive — – EulerFinance (2023) at $200M.
Prior Business Logic Flaw Before PHIL
The nearest business logic flaw incident before PHIL was HYPR, 1 day earlier on December 13, 2023 ($200K lost). The same exploit class surfaced again within the business logic flaw attack surface.
Target Chain: BNB Chain
The vulnerable PHIL contract was deployed on BNB Chain — one of 23 documented incidents on BNB Chain. This determines the block cadence, mempool, and forensic tooling available to investigators.
Impact & Recovery for PHIL
PHIL Loss Figure
The PHIL exploit caused $2 in losses — a minor (<$1M) incident and the 161st largest of 214 documented in 2023.
Where PHIL Sits Among Business Logic Flaw Attacks
Ranked by loss size, PHIL is the 100th largest of 144 business logic flaw incidents documented. That puts the PHIL loss below the class average of $6.08M.
Timeline Since the PHIL Incident
The PHIL exploit occurred 2.3 years ago (852 days). The contract, its fork-block, and the attack transaction remain on-chain and forensically reproducible.
Primary Reference for PHIL
Public post-mortem / on-chain analysis for the PHIL incident: view source.
FAQ
How much did PHIL lose?
The PHIL exploit in December 2023 resulted in $2 in losses — the 161st largest of 214 DeFi incidents that year.
When did the PHIL hack happen?
The PHIL exploit was recorded on December 14, 2023 — 852 days ago.
What type of exploit hit PHIL?
The PHIL incident is classified as a Business Logic Flaw. A business-logic bug in the contract — such as an incorrect formula or missing state update — lets the attacker withdraw more than their share.
Which blockchain was PHIL deployed on?
The PHIL contract was deployed on BNB Chain, one of 23 documented incidents on that chain.
How does PHIL compare to the largest Business Logic Flaw attack?
The largest business logic flaw incident in our archive is – EulerFinance (2023) at $200M. The PHIL loss is $2.
How does green bond issuance affect corporate stock prices?
Announcements of green bond issuance have a positive impact on corporate stock prices.
What is the ultimate goal of the proposed adversarial attack and defense methods?
To improve the security and robustness of time series classification systems against adversarial threats.