Is Makina Safe?
Risk Grade: C (48/100)
Makina is rated as elevated risk — multiple novel mechanisms and notable interaction risks.
Elevated risk — an innovative DeFi execution engine with a novel architecture, but a recent security exploit and short track record significantly elevate the risk profile.
Makina is a DeFi execution engine that allows professional operators and AI agents to run automated yield strategies across multiple EVM chains on behalf of depositors. Using its novel Machine/Caliber architecture, it provides institutional-grade strategy execution with governance-defined risk controls. However, the protocol suffered a $4.2M hack shortly after launch, and its novel architecture remains largely untested. The MAK token captures value through buybacks and governance staking.
TVL
$29M
Mechanisms
6
Interactions
5
Value Grade
C-
Key Risks for Makina Users
Makina was hacked for $4.2M shortly after launch — this demonstrates real smart contract vulnerabilities in its execution engine
Professional operators control how your deposits are invested — if an operator makes a bad call or acts maliciously, your funds are at risk
The Machine/Caliber architecture is entirely new with no proven track record in DeFi — novel systems carry higher risk of undiscovered bugs
Top Risk Factors
- •Security incident: Makina suffered a $4.2M hack shortly after launch, demonstrating smart contract vulnerabilities in its execution engine
- •Novel architecture risk: the Machine/Caliber execution engine for automated cross-chain DeFi strategies is a novel and largely untested pattern
- •Operator trust dependency: professional operators and AI agents execute strategies on behalf of users, creating counterparty risk if operators act maliciously or incompetently
How Makina Compares to Peers
Makina ranks #64 of 68 DeFi protocols (bottom quartile — among the riskiest). At a risk score of 48/100, it's 12 points riskier than the sector average of 36/100.
Adjacent peers: Venice AI (C, 47/100) is ranked just safer, and Virtuals Protocol (C, 49/100) is ranked just riskier.
See the full DeFi sector leaderboard or the Makina vs Virtuals Protocol comparison.
Common Questions about Makina
Plain-English answers based on Makina's scores across Hindenrank's 8 risk dimensions. The highest-scoring (riskiest) dimension is Track Record (12/15).
Has Makina ever been hacked or exploited?
Makina has a documented incident history that materially raised its risk grade — the track record dimension scored 12/15, near the high end of the scale. Past exploits, governance failures, or contract issues are baked into this rating. Anyone considering deposits should review the incident details before allocating capital.
How much money is at stake in Makina?
Makina currently holds roughly $29M in user deposits. Smaller TVL means individual depositors carry a larger share of any loss event, and it can be harder to exit a position quickly during stress.
What's the worst-case scenario for Makina?
Hindenrank has identified specific collapse scenarios for Makina. The most prominent: "Repeat Smart Contract Exploit". The trigger condition is A new vulnerability in the Machine/Caliber execution engine is exploited, similar to the previous $4.2M hack. Reading through the full scenario list on the protocol page is the single best way to understand the actual failure modes — generic "smart contract risk" is rarely the thing that takes a protocol down.
Is Makina regulated or insured?
Makina has some regulatory exposure (4/10), typical of mid-sized DeFi protocols. There is no specific enforcement action on record, but the structure includes elements that regulators have flagged in similar protocols. No DeFi protocol carries FDIC-style insurance — even with low regulatory risk, depositors are not protected in the way bank customers are.
What are the biggest red flags for Makina?
Hindenrank's retail-focused risk audit flagged: Makina was hacked for $4.2M shortly after launch — this demonstrates real smart contract vulnerabilities in its execution engine Professional operators control how your deposits are invested — if an operator makes a bad call or acts maliciously, your funds are at risk The Machine/Caliber architecture is entirely new with no proven track record in DeFi — novel systems carry higher risk of undiscovered bugs
Should beginners deposit into Makina?
Makina's C grade puts it in the elevated-risk band. This is not a beginner-friendly protocol. Anyone depositing here should treat the position as speculative and avoid concentrating significant savings in it.
How does Makina compare to safer DeFi alternatives?
Makina is one protocol in Hindenrank's DeFi coverage. The safest DeFi protocols on the leaderboard tend to share three traits: a long incident-free track record, conservative mechanism design, and high-quality public documentation. Compare Makina against the full DeFi ranking before committing capital.
For the full 8-dimension score breakdown, the radar chart, and dependency graph, see the Makina risk report.
Read the Full Makina Risk Report
This protocol has 2 collapse scenarios. 3 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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