Ribbon Finance, which has partially rebranded to Aevo, has lost $2.7&nbsp;million after attackers exploited a vulnerability in the <button class="define-target" id="smart-contract">smart contract</button> for legacy Ribbon vaults that enabled them to manipulate <button class="define-target" id="oracle">oracle</button> prices and withdraw a large amount of ETH and USDC.<p>Ribbon has announced it will cover $400,000 of the lost funds with its own assets. However, Ribbon is also offering users a lower-than-expected haircut on their assets by assuming that some of the largest affected accounts will not withdraw their assets, having been dormant for several years. While this plan may benefit active users, it seems like it could get very messy if those dormant users do wish to withdraw their assets and discover they've been used to pay others.</p>

Ribbon Finance exploit

Ribbon Finance suffers $2.7&nbsp;million exploit, plans to use "dormant" users' funds to repay active users

Ethereum <button class="define-target" id="miner">validators</button> running the Prysm consensus client lost around 382&nbsp;ETH ($1.18&nbsp;million) after a bug resulted in delays that caused validators to miss blocks and attestations. Though the bug had been introduced around a month prior, it did not affect validators until Ethereum completed its "Fusaka" network update on December 3. Around 19% of Ethereum validators use the Prysm consensus client, which is developed by Offchain Labs.

Prysm consensus client bug

Prysm consensus client bug causes Ethereum validators to lose over $1&nbsp;million

Only weeks after <a href="https://www.web3isgoinggreat.com/?id=yearn-finance-hack-3" target="_blank">losing $6.6&nbsp;million to an infinite mint exploit</a>, a Yearn Finance <button class="define-target" id="smart-contract">smart contract</button> has again been exploited, allowing an attacker to make off with around 103&nbsp;ETH (~$300,000). The affected contract is a legacy contract that was part of the Yearn v1 project (once known as iearn). The attacker used a <button class="define-target" id="flash-loan">flash loan</button> to manipulate the price of tokens in the vault, allowing them to withdraw the iearn assets, which they then swapped for ETH.<p>This is Yearn's fourth hack, following the $6.6&nbsp;million theft in November, an <a href="https://www.web3isgoinggreat.com/?id=yearn-finance-hack-2023" target="_blank">$11&nbsp;million exploit in 2023</a>, and an <a href="https://www.web3isgoinggreat.com/?id=yearn-finance-loses-11-million" target="_blank">$11&nbsp;million exploit in 2021</a>. Yearn also lost around $1.4&nbsp;million in 2023 in connection to the <a href="https://www.web3isgoinggreat.com/?id=euler-finance-exploited-for-almost-200-million" target="_blank">Euler Finance attack</a>.</p>

Event	Date	Amount More info
Ribbon Finance exploit	December 12, 2025	$2,700,000
Prysm consensus client bug	December 4, 2025	$1,180,000
Yearn Finance exploit #4	December 16, 2025	$304,400