Ajna v2, an immutable oracleless lending protocol with no governance, lost roughly $775,000 across seven Ethereum pools between August 28 and August 29, 2026, in what on-chain reconstructions describe as a liquidation-accounting exploit rather than an oracle attack. The team publicly acknowledged unusual movements at 04:58 UTC on August 29 and urged users to withdraw quote tokens, repay loans, and stop interacting with the protocol. Security firm Defimon later published a pool-by-pool loss table totaling about $775.4K, led by syrupUSDC at $173.7K and wstETH at $159.8K, and said its detection stack flagged the prepared attack more than an hour before the first exploit transaction. Public analysis centers on Ajna’s internal liquidation path—kick, take, bucketTake, and settle referenced to Lowest Utilized Price—where under certain LUP and auction conditions takers could mint LP, remove collateral, and settle with zero quote repaid. At the time of the attack, DefiLlama put Ajna V2 TVL near $206,000 against about $418,000 in active loans, so reported losses exceeded then-reported TVL; later readings showed TVL near $450,000 with active loans about $30,200. Because v2 cannot be patched on-chain, user exits remain the only immediate defense while an official postmortem and full pool reconstructions remain pending.