Ajna Protocol lost roughly $775,000 in ETH after an attacker manipulated the decentralized lending platform’s liquidation logic across multiple liquidity pools. Ajna operates without external price feeds or governance controls, relying instead on lender-set rates, fixed buckets and contract-based liquidation calculations. Defimon detected preparations more than an hour before the first exploit transaction and alerted the Ajna team through Discord, but the protocol was not secured before the attack began. The incident affected syrupUSDC, wstETH, rETH, cbETH, WBTC, WETH/USDC and sDAI pools, with syrupUSDC accounting for approximately $173,700. DefiLlama data at the time showed Ajna V2 had about $206,000 in total value locked, meaning the reported loss exceeded its TVL. Live data after the attack listed Ajna V2 TVL at $449,783, active loans at $30,198 and Ethereum TVL at $425,825; Ajna V2’s TVL was down 17.1% over 30 days, while active loans represented 6.7% of reported TVL. Evidence indicates the attacker exploited internal accounting rather than compromising Ajna’s core code. The episode follows earlier audit findings involving liquidation computations and bucket-state accounting, which were marked resolved, and resembles manipulation-based incidents such as the attack on Moonwell. It also underscores that removing oracle (external price data) risks can leave decentralized lending systems exposed to vulnerabilities in their own calculations. TRM Labs recorded 207 protocol hacks in the first half of 2026, with a median loss of $219,000; more than 100 involved smart contract (self-executing blockchain code) vulnerabilities.