TLDR
- Transit Finance lost $1.8 million in DAI after attackers exploited the cross-chain swap protocol.
- Blockchain security firm PeckShield traced the stolen funds to a single Ethereum wallet.
- The exploit adds to more than $600 million in DeFi losses recorded in April alone.
- Kelp DAO and Drift Protocol accounted for most of April’s hacking losses.
- TRM Labs estimates that Lazarus Group represents about 76% of crypto hack losses in 2026 through April.
Transit Finance, a cross-chain swap aggregator, has suffered a $1.8 million exploit involving DAI stablecoins. Blockchain security firm PeckShield flagged the incident on Wednesday and traced the funds to one Ethereum address. The breach adds to a wave of DeFi attacks that have pushed 2026 losses toward $2.3 billion.
Transit Finance Breach Exposes $1.8 Million in DAI
PeckShield reported that attackers drained about $1.8 million in DAI from Transit Finance. The firm said it identified a single Ethereum wallet holding the stolen assets. It shared the alert publicly and tracked the movement on-chain.
Transit Finance operates as a cross-chain swap aggregator across more than a dozen networks. The platform routes trades between blockchains to offer pricing efficiency and execution speed. However, its interconnected design increases exposure to multiple attack surfaces.
PeckShield did not disclose the exact technical vector used in the exploit. However, it confirmed the loss amount and wallet address linked to the funds. Transit Finance has not released a detailed public statement at the time of reporting.
The exploit follows a series of high-value breaches across decentralized finance platforms. April alone recorded more than $600 million in losses across various protocols. Two major cases accounted for most of that figure.
DeFi Losses Surge as Transit Finance Joins April Breach List
Kelp DAO lost $293 million on April 19 after attackers drained its liquid restaking contracts. Drift Protocol lost $280 million on April 1 in a separate exploit affecting its Solana-based exchange. Together, those two attacks drove April’s total losses.
Security researchers now project full-year 2026 DeFi hack losses could reach $2.3 billion. TRM Labs reported that North Korea-linked Lazarus Group accounts for roughly 76% of crypto hack losses through April 2026. The firm based its estimate on blockchain tracing and forensic analysis.
Cross-chain protocols remain frequent targets because they bridge assets across networks. Transit Finance fits that category since it connects more than a dozen blockchain ecosystems. Attackers often exploit smart contract weaknesses or approval mechanisms in such systems.
Transit Finance faced a major breach in October 2022 that resulted in $28.9 million in losses. Attackers exploited improper input validation within its swap function. That flaw enabled unauthorized transfers from users who had granted token approvals.
Following that 2022 incident, the team recovered a portion of the stolen funds. The platform implemented security updates and reviewed its validation logic. However, the latest $1.8 million exploit shows attackers continue to target the protocol.
PeckShield continues to monitor the Ethereum address holding the stolen DAI. The firm has not reported any movement of funds since the initial alert. Transit Finance has yet to disclose further operational details as of Wednesday.
