Bet protocol “Defi 3.0” driven by AI, self -described “Defi 3.0”, the new gold protocol, built “with sustainability in its nucleus”, was pirated hours after the launch. The hacking took place on September 18, 2025. The hacker exploded two failures in the NGP design. The case demonstrates how negligence in the design of the protocol can condemn a project from day one.
Summary
- Almost $ 2 million in crypto of the new newly launched gold protocol platform through a flash loan attack were stolen.
- The stolen money was sent to Cash Tornado. The hacker is not identified.
- The team behind the new gold protocol remains silent.
- Larger flash loan attacks were more than $ 100 million in losses.
What is the new gold protocol?
The new gold protocol is a rethinking protocol built on the BNB block chain and was launched on September 18.
One of the issues That the new gold protocol aims to solve is the “lack of price rules.” According to the technical document, many protocols “lack standardized mechanisms for behavior prices, resulting in volatility and disorder.”
The new “defi 3.0” protocol of next generation was destined to overcome competitors who have no intrinsic profits and whose governance models are inefficient. The NGP team saw the way to achieve transparency, justice and sustainability through IA optimization.
The new gold protocol struggled to create an inclusive rethink platform with a transparent and automated environment sustained through intelligent contracts. Due to tokens burns, NGP promoted its native token as deflation. He promised real performance distributions instead of inflation and speculative incentives. The NGP technical document suggested that transparency guarantees responsibility. However, it turned out that this was not enough.
How was NGP pirate?
The piracy took place shortly after the launch of the Token NGP. The amount of NGP tokens that could be bought was limited to avoid price inflation attacks, but the hacker found a way to avoid it.
According to analysts of the Blockchain Hacken security company, six hours before the attack, the hacker accumulated a large number of assets through flash loans using different accounts. Flash loans are a popular feature on defi platforms. They allow loans of cryptographic assets quickly without guarantee. The funds can be used for arbitration trade, stealing funds from a protocol or price manipulation. Like hacken gradesThe damage caused through flash loan attacks can amount to millions of dollars.
The attacker used a Oracle manipulation tactic. The protocol determined the price of the NGP token scanning its reservations in the DEX liquidity group, which allowed the attacker to manipulate the price. The attacker began to exchange NGP in Pancakepair, which pumped the NGP price quickly.
The new gold protocol contained two limits: a purchase limit and a cooling limit for buyers. Both were avoided when the attacker used the “dead” direction as the recipient.
The next movement was to drain almost all the chips of the royalty of the protocol through the sale of NGP. He left the new gold protocol almost without funds. Then, the attacker won $ 1.9 million in cryptography and immediately changed the funds to ETH -with BNB headquarters.
According to the Hacken team, the following actions included depositing tornado cash through Ethereum Pujinado. The action sent the price of NGP when leaving the protocol with only a small amount of funds. Soon, the price of Token NGP collapsed 88%.
Unfortunately, despite the ambitious plans to remodel the Defi sector and build a sustainable product, the new golden protocol neglects its own safety and faced serious damage. The company did not comment on the subject. The last tweet says “stability meets growth.” It was published several hours before the attack and now it looks like a bitter joke.
https://twitter.com/newgoldprotocol/status/19684951880094011
Other flash loan attacks
As soon as Flash loans were introduced, flash loan attacks quickly became one of the tactics used by criminals.
The biggest attack It was carried out In March 2023. The hacker managed to steal around $ 197 million in Bitcoin wrapped, Ethereum wrapped and other assets of the Euler finance protocol. The hacker was using an error in the platform calculation rate. The funds were sent to an address previously used by the notorious hackers of the RPDC, the Lazarus group. What made this case especially notable is that the hacker voluntarily returned all the funds and apologized.
Other notable examples include The Cream Finance Hack ($ 130 million stolen in 2021) and polyter ($ 12 million stolen in 2024). A flash loan was part of the scheme used in 2025 to eliminate $ 223 million in cryptography of the CETUS protocol based on sui.
