Dear Demex Community,
Weβre heartbroken to share that the Nitron lending market on Demex was exploited today, resulting in just over $1 million in user funds being drained. The exploit was caused by a faulty oracle tied to the deprecated dGLP token. We are truly sorry this has happened.
As soon as we detected suspicious activity, we immediately paused all lending and borrowing on Nitron and launched a full investigation. Our top priority now is tracing the stolen funds and working with partners, exchanges, and relevant authorities to prevent the exploiter from moving or cashing them out.
Hereβs whatβs happening:
Lending & Borrowing Paused: All Nitron activity has been halted to prevent further loss.
Trading on spot and perpetual markets is unaffected, and the loss is fully contained to Nitron lenders.
Funds Tracing Underway: We are tracking the attackerβs addresses and movements across chains.
Coordination in Progress: We are actively working with exchanges and infrastructure partners to freeze or intercept funds where possible.
Next Steps for Lenders: We are assessing options for restitution and will share a concrete plan as soon as possible. A detailed list of affected assets will be published shortly.
A full post-mortem is in progress and will be shared publicly. We will also schedule a community discussion to walk through what happened and how weβre moving forward.
We know your trust has been shaken. Weβre doing everything in our power to make this right β and weβll keep fighting for every dollar that was taken.
With heavy hearts,
The Demex Team