On August 2024, Novax was exploited in a price manipulation, resulting in approximately $25K in losses. That makes the Novax exploit the 316th largest DeFi incident out of 690 documented in our archive.
Attack Mechanics: How the Novax Price Manipulation Played Out
Exploit Class Applied to Novax
The Novax incident on August 6, 2024 is classified as a Price Manipulation. The attacker drives the on-chain price of a token up or down within a single transaction to extract value from the protocol. In the full archive, Novax is 1 of 85 documented price manipulation incidents.
Novax in Context
At $25K, the Novax exploit is a minor (<$1M) event compared to the largest same-class incident in our archive — CreamFinance (2021) at $130M.
Prior Price Manipulation Before Novax
The nearest price manipulation incident before Novax was UwULend, 57 days earlier on June 10, 2024 ($19.3M lost). The same exploit class surfaced again within the price manipulation attack surface.
Impact & Recovery for Novax
Novax Loss Figure
The Novax exploit caused $25,000 in losses — a minor (<$1M) incident and the 90th largest of 188 documented in 2024.
Where Novax Sits Among Price Manipulation Attacks
Ranked by loss size, Novax is the 48th largest of 85 price manipulation incidents documented. That puts the Novax loss below the class average of $3.9M.
Timeline Since the Novax Incident
The Novax exploit occurred 1.7 years ago (616 days). The contract, its fork-block, and the attack transaction remain on-chain and forensically reproducible.
Primary Reference for Novax
Public post-mortem / on-chain analysis for the Novax incident: view source.
FAQ
How much did Novax lose?
The Novax exploit in August 2024 resulted in $25,000 in losses — the 90th largest of 188 DeFi incidents that year.
When did the Novax hack happen?
The Novax exploit was recorded on August 6, 2024 — 616 days ago.
What type of exploit hit Novax?
The Novax incident is classified as a Price Manipulation. The attacker drives the on-chain price of a token up or down within a single transaction to extract value from the protocol.
How common is the Price Manipulation pattern seen at Novax?
Our archive contains 85 documented price manipulation incidents. The Novax incident is one of them.
How does Novax compare to the largest Price Manipulation attack?
The largest price manipulation incident in our archive is CreamFinance (2021) at $130M. The Novax loss is $25K.
How many responses were analyzed in the study?
118 responses were analyzed.
What findings does the study report regarding companies with substantial cryptocurrency holdings?
Companies with substantial cryptocurrency holdings show a stronger positive correlation with sustainable performance during financial crises.