1,300 ETH Stolen from NFT Lending Platform OMNI in Re-entrancy Exploit

OMNI has suffered a 1,300 ETH ($1.43 million) exploit as the hacker exploited the firm’s reentrancy vulnerability protocol.

OMNI, an NFT finance protocol that lends crypto to users in exchange for staked NFTs, has suffered a breach leading to the theft of 1,300 ETH ($1.43 million USD) as the hacker exploited the firm’s re-entrancy vulnerability protocol.

OMNI Suffers 1,300 ETH Exploit

On Sunday, June 10th, blockchain security company PeckShield reported that OMNI had suffered a re-entrancy exploit, through which a hacker had stolen more than 1,300 wETH ($1.4 million USD). 


According to a postmortem conducted by BlockSec, the hacker deposited NFTs from the ‘Doodles‘ collection in order to borrow wrapped ETH (wETH). The hacker then used the Doodles NFT acquired with the initial loan as collateral to borrow more wETH. 

However, OMNI failed to identify this as a new position, and thus allowed the hacker to withdraw the NFTs without paying back the loan.

No User Funds Were Stolen 

According to OMNI, the protocol is still in its beta phase, and the stolen Ether was from internal testing funds. OMNI has since suspended its services, but confirmed that no customer funds were lost in the exploit.

  • On-chain data from Etherscan shows that the attacker has already laundered the funds using the infamous ‘Tornado Cash’ Ethereum mixing service for private transactions.

Why You Should Care

The high levels of activity in the NFT space have made it a prime target for hackers, who seek to exploit the vulnerabilities in NFT protocols.

For more on recent, high-profile NFT hacks check out:


Yuga Labs Discord Server Hacked: NFTs Worth Over 200 ETH Stolen

Beeple’s Twitter Account Hacked for $438K in Crypto and NFT Phishing Scam

High Profile Twitter Accounts Hacked, Spreading Azuki NFT Scams

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia